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Partnership Accounts

Authored by soasc bat

Business

9th - 12th Grade

Used 3+ times

Partnership Accounts
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30 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The minimum number of persons in a partnership is ___

2

4

10

20

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the minimum and maximum number of partners required

to form a partnership business?

2 and 4

2 and 50

2 and 20

2 and 10

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In a partnership business, agreement is

compulsory

optional

not necessary

4.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

The Written agreement of partnership is called ___

Partnership Contract

Partnership Act

Agreement

Partnership Deed

5.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In absence of a Partnership deed, partners are entitled to

interest on capital at the rate of ___

6%

9%

12%

nil

6.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In absence of Partnership deed, partners will share the profits and losses in the equal ratio

True

False

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

In absence of Partnership Deed, partners will get salary, commission etc.

Yes

No

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