Question # 1

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 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

For the firm, interest on drawing is.

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Expense

Income

Liability

None of these

Current accout of the partners should be opened when the capitals are.

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Fluctuating

Fixed

Either fixed or fluctuating

Neither fixed or fluctuating

The owner of the partnership are called as.

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Member

Partners

Share holder

None of these

Liability of the partners in partnership is.

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Limited

Unlimited

Limited up to the extent of their capitals

Depend on the will of the partners

Registraion of the firm.

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It is legally necessary

It is optional

It depends on the will of the partners

It depends uopon the will of theemployee

The persons who have entered two partnership are individually called.

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Agents

Partners

A firm

Vendor

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

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

A partner who is newly admitted to the firm with the consent of all the parties is called.

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Salaried partner

Incoming partner

Junior partner

Minor partner

Partnership is formed under the act of.

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1984

1932

1912

1962

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

The agreement among the partners which sets out the term is which they have agreed to form a partnership is called.

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Partnership deed

Aribtrartio clause

Partnership at will

None of these

Investment in partnership is made byintroducing.

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Cash

Non cash assets

Cash or non cash assets

None of these

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