FORMS OF BUSINESS ORGANISATION

The most important document used in partnership business is.................... .

• PARTNERSHIP DEED

• NONE OF THE ABOVE 

• MEMORANDUM OF ASSOCIATION

Registration of a partnership business is ....................

• OPTIONAL 

• COMPULSORY 

In a general partnership liability of partners is .......................

• UNLIMITED 

• LIMITED 

The liability of members of a cooperative society is................... to the extent of their capital contribution.

• LIMITED 

• UMLIMITED 

The cooperative society lays emphasis on.............. motive.

• PROFIT MOTIVE 

• SERVICE MOTIVE 

A nominal partner is one who allows the use his/her name by a firm, but does not contribute capital.

• True

• False

The cooperative society is required to be registered under the Cooperative Society Act______

• a) 2013

• b) 1932

• c) 1956

• d) 1912

Name the cooperative society that provides loan to its members at easy terms and reasonable interest

• Marketing Cooperative societies

• Consumers Cooperative Societies

• Credit Cooperative societies

• Credit Cooperative societies

Mention the maximum number of partners in partnership and under which Act it is mention.

• 100, Indian Partnership Act 1945

• 50, Indian Partnership Act, 1932

• 50, Companies Act 2013

• 100, Companies Act 2015

Name the partner who does not contribute capital for business but held liable to outsiders.

• Partner by estoppel

• Secret Partner

• Active Partner

• Dormant Partner