| 1 |
Interest on drawing is debited to. |
- A. Partners capital accounts
- B. Profit and loss account
- C. Interest account
- D. None of these
|
| 2 |
Liability of the partners in partnership is. |
- A. Limited
- B. Unlimited
- C. Limited up to the extent of their capitals
- D. Depend on the will of the partners
|
| 3 |
A partner who takes an active part in the managment of the firm is called. |
- A. Active partner
- B. Sleeping partner
- C. Norminal partner
- D. Quasi partner
|
| 4 |
A paartner who have a major investment in the firm and receive a relatively more profit is called. |
- A. Sleeping partner
- B. Darment partner
- C. Senior partner
- D. Estoppels partner
|
| 5 |
When the capitals of the partners arr not allowed to change during the life time of the business except in extra ordinary circumslancer then they are called. |
- A. Fluctuating capitals
- B. Fixed capitals
- C. Current capitals
- D. None of these
|
| 6 |
In case of banking business, the numerb of persons must not exceed. |
- A. Ten (10)
- B. Twenty (20)
- C. Tweinty five(25)
- D. Fifty (50)
|
| 7 |
Partnership is formed under the act of. |
- A. 1984
- B. 1932
- C. 1912
- D. 1962
|
| 8 |
A paatner who invests capital inthe business but does not take active part in the conduct of the business is called. |
- A. Active partner
- B. Sleeping partner
- C. Secrete partner
- D. None of these
|
| 9 |
The persons who have entered two partnership are individually called. |
- A. Agents
- B. Partners
- C. A firm
- D. Vendor
|
| 10 |
In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of. |
- A. 5 persent
- B. 6 persent
- C. 8 persent
- D. 9 persent
|
