business quiz

partnership firm is registered according to partnership act

• 2014

• 2018

• 2020

• 2022

partnership firm can be established by

• at least one person

• at least 10 person

• at least 2 person

• only two person

Agreement among the partner in the partnership is known as

• Partnership deed

• Partners agreement

• partnership deal

• partnership condition

Transfer of share in the partnership can be done

• with the agreement of new parner

• with the consent of two partners

• with the consent of all the existing partner

• without the consent of partners

Profit in the partnership firm is distributed

• as per partners performance

• as per partners age

• as per the types of partner

• as per partners capital contribution

Liability of the partners in the partnership firm is

• unlimited

• limited

• limited upto his capital

• unlimited for active partners only

Which of the following partners doesn't invest any capital in the business?

• active partner

• sleeping partner

• nominal partner

• minor patner

a quasi partner is

• an incoming

• a minor partner

• a retired partner who leaves his capital as loan

• a third person who works for the business

Arbitration clause in the partnership deed is for

• settling disputes and misunderstanding

• distributing profit

• valuation of goodwill

• registration

which of the following is not a duty of a partner?

• to share loss

• not to demand remuneration

• not to use the business asset for personal use

• run a competitive business