Question # 1

Registration of the partnership business:

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Is necessary

Depends on the will of partners

Depends on the will of registrar

None of these

If the court declares the bankruptcy of any partner in partnership then

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The partnership continues

The partnership becomes weak

The partnership becomes cancels

A new partner is admitted

The best form of a partnership deed is:

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Verbal

Written

Written and registered

None of the above

A non-active partner in a partnership

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Neither invests nor takes part in the business

Doesn't invest but takes part in the business

Invests but doesn't take part in the business

None of the above

The maximum number of partners in ordinary partnership

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Ten

Twenty

Thirty

Forty

The liability of a partner in partnership is normally:

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Limited

Unlimited

Not at all

all the above

Limited partnership is formed under limited partnership act

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1897

1907

1917

1927

In the absence of agreement, what will be the interest rate on extra capital of a partner

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4%

6%

10%

12%

The liability of a partner in partnership is normally

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Limited

Unlimited

Not at all

All the above

Shirkat-ul-Mufavdha cannot be formed between

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Muslims & non-muslim

Owner and worker

Major and minor

All correct

When did the partnership business come into being:

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1872

1880

1892

1902

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Principle of Commerce Icom Part 1 English Medium Chapter 4 Online Test MCQs With Answers

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