Partnership

Partnership is the relation which subsists between persons who have agreed to combine their property,

labour or skill in some business and to share the profits there from between them.

• True

• False

• Partly true

• None of the above

A ...........partner is one whose association with the firm is unknown to the general public.

• Active

• Sleeping

• Secret

• Nominal

It can continue as long as the partners want and is terminated when any partner gives a notice of

withdrawal from partnership to the firm.

• Partnership at will

• Particular partnership

• Limited partnership

• Unlimited partnership

It is optional for a partnership firm to get registered

• True

• False

• Partly true

• None of the above

Partnership firms in India are governed under the Partnership Act (a)  

As per Rule 10 of the Companies Act, what is the number of maximum partners in a firm?

(a)  

Minors can be admitted to share only (a)   of the firm

Tick all the types of partners in India

• Active

• Dormant

• Still

• Sleeping

Partnership deed does not include the following

• Name of the partners

• Capital contributed by each partner

• Method of resolving dispute

• Rules for who can be admitted as a partner

Who among the following partners does not contribute capital

• Active

• Sleeping

• Secret

• Partner by Estoppel