Partnership

To start a partnership business, what should be the minimum number of partners?

• 2

• 10

• 4

• 20

What type of agreement is used to form a partnership business?

• Written agreement

• Oral Agreement

• Written or Oral Agreement

• No Agreement required

In partnership, partners liabilities are

• Limited

• Unlimited

• Limited to the capital invested

• Limited to the amount mentioned

What is the partnership written agreement known as?

• Partnership Contract

• Partnership Act

• Agreement

• Partnership Deed

Which is not a feature of a partnership business?

• Easy Formation

• Mutual Agency

• Limited Liability

• Two or more person

Limited Liability PArtnership Act was passed in the year

• 2007

• 2008

• 2009

• 2010

LLP is hybrid form of

• Sole Proprietorship and Joint stock company

• Joint Stock Company and Co-operative society

• Partnership and Sole Proprietorship

• Partnership and Joint stock company

Registration of LLP is

• Compulsory

• Mandatory

• Optional

• Not required

Common seal is used as

• Agreement

• Signature

• Approved agreement

• Non approved agreement

Liability of members in joint stock company is

• Limited

• Unlimited

• no liability

• full liability