Ajay tiwari

In which section of Indian partnership act 1932 , definition has been given ?

• Section 3

• Section 5

• Section 4

• Section 8

Following are essential elements of a partnership firm except

• At least two persons

• There is an agreement between all partners

• Equal share of profits and losses

• Partnership agreement is for some business.At least two persons

Restrictions is given about to maximum number of partner in Indian partnership act 2013 which section is ?

• Section 564

• Section 464

• Section 365

• Section 166

In case, providing salary to partner his capital a/C will be ?

• Decrease

• Increase

• No effect

• Nothing

Interest on drawings always shown in side of profit and loss a/c

• Debit

• Credit

• Debit/ credit

• No any side

In absence of partnership deed profit and loss ratio will be ?

• Capital ratio

• Giving ratio

• Equal ratio

• No distribution

Mr, X is a partner in a firm. He provides loan to the firm 1,00,000 . He demands the interest @ 15% but it is not recorded in partnership deed . In case X will be get interest @ of

• 15%

• Market rate

• Demanding rate

• 6%

All the provisions are provided to partnership firms by?

• Company act 1956

• Industry minister

• Indian partnership act 1932

• Indian partnership act 2013

The relation of partners with the firm is that of

• An owner

• An agent

• An owner and an agent

• Manager

Which one of the following is not an essential features of partnership?

• There must be an agreement

• There must be a business

• The business must be carried on the the profit

• The business must be carried on by all the partners