Question # 1

Current accoujts of the partners should be opened when the capital are.

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Fixed

Fluctuating

Either fixed or fluctuating

None of these

The persons who have entered two partnership are individually called.

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Agents

Partners

A firm

Vendor

The owner of the partnership are called as.

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Member

Partners

Share holder

None of these

A partner does not take an acitive partner is the managment firm is called.

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Active partner

Sinior partner

Darment of sleeping partner

Nominal partner

If some proparty is owned jointly with out any attention to carry on a business it is called.

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Partnership

Co- ownership

Sole ownership

Agency

A paartner who have a major investment in the firm and receive a relatively more profit is called.

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Sleeping partner

Darment partner

Senior partner

Estoppels partner

Partnership is formed by the partners.

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Written agreement

Mutual consent

Verbal agreement

None of these

Maximum numebr of the partners in an ordinary Partinership.

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Ten partners

Twentry partners

Thirty partners

Fourth partners

A paatner who invests capital inthe business but does not take active part in the conduct of the business is called.

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Active partner

Sleeping partner

Secrete partner

None of these

In the absence of an partnership agreement the pfofit and losses are divided by the partners in the ratio of.

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Capitals

Profit and loss ratios

Equality

Time devoted by each partner

The investment in partners capital accounts is to be credited to.

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Partners capital accounts

Profit and loss account

Interest account

None of these

Interest on drawing is debited to.

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Partners capital accounts

Profit and loss account

Interest account

None of these

In the absence of an agreemetn, interest on loan advanced by the partner to the firm is allowd at the rate of.

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5 persent

6 persent

8 persent

9 persent

Capital of the partners are maintained under.

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Fixed capital method

Fluctuating method

By any two of the above

None of the above

A partner, who hasnot attained the age of majority is called.

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Junior partner

Minor partner

Nominal patner

Quasi Partner

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