Which of the following is not the elements of a partnership as defined under section 3(1) Partnership Act 1961?
LAW OF PARTNERSHIP (BUSINESS ENTITIES AND NATURE OF PARTNERSHIP)

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Business
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University
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Medium
Norzelawati Umar
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20 questions
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1.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
with the view of profits
carrying on
relation
capacity
2.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
"Persons" in section 3(1) PA1961 refers to the number of partner in ordinary/conventional firms and professional firms can be up to _____
ordinary firm = 2-20, professional firm = 2-unlimited
ordinary firm = 2 - 50
professional firm = 2 - 100
ordinary firm = 2 - unlimited
professional firm = 2 - 20
ordinary firm = unlimited partners
professional firm = unlimited partners
3.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
The word "carrying on" can best be defined as _____.
The business must be in existence & operating
There must be a business ideas
There must be an agreement to set up a business
All partners must involve in the management of the business
4.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
All occupations, trade and profession are considered as partnership
TRUE
FALSE
5.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Valid partnership exist even though not all partners take part in the management of the partnership.
TRUE
FALSE
6.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Societies like Pertubuhan Kasih Umat Malaysia (PKUM) & Persatuan Cinta Gaza (CGM) can be considered as a partnership.
TRUE
FALSE
7.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Is there any existence of partnership in case of joint ownership (tenancy in common) and sharing of gross return?
YES
NO
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