| 1 |
If some proparty is owned jointly with out any attention to carry on a business it is called. |
- A. Partnership
- B. Co- ownership
- C. Sole ownership
- D. Agency
|
| 2 |
Current accoujts of the partners should be opened when the capital are. |
- A. Fixed
- B. Fluctuating
- C. Either fixed or fluctuating
- D. None of these
|
| 3 |
In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of. |
- A. Capitals
- B. Profit and loss ratios
- C. Equality
- D. Time devoted by each partner
|
| 4 |
A partner does not take an acitive partner is the managment firm is called. |
- A. Active partner
- B. Sinior partner
- C. Darment of sleeping partner
- D. Nominal partner
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| 5 |
Interest on drawing is debited to. |
- A. Partners capital accounts
- B. Profit and loss account
- C. Interest account
- D. None of these
|
| 6 |
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
|
| 7 |
In the absence of an agreement partners shall |
- A. Be paid salaries
- B. Not to be paid the salaries
- C. Be paid salaries by the consent of the pariners
- D. Be paid salaris to thos who worked for the firm
|
| 8 |
Registraion of the firm. |
- A. It is legally necessary
- B. It is optional
- C. It depends on the will of the partners
- D. It depends uopon the will of theemployee
|
| 9 |
For the firm, interest on drawing is. |
- A. Expense
- B. Income
- C. Liability
- D. None of these
|
| 10 |
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
|
