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WorksheetsPatnership
Total questions: 18
Worksheet time: 9mins
To start a partnership business, what should be the minimum number of partners?
2
10
4
20
What type of agreement is used to form a partnership business?
Written agreement
Oral Agreement
Written or Oral Agreement
No Agreement required
In partnership, partners liabilities are
Limited
Unlimited
Limited to the capital invested
Limited to the amount mentioned
What is the partnership written agreement known as?
Partnership Contract
Partnership Act
Agreement
Partnership Deed
Which is not a feature of a partnership business?
Easy Formation
Mutual Agency
Limited Liability
Two or more person
Common seal is used as
Agreement
Signature
Approved agreement
Non approved agreement
Long life of company is called as
Temporary
Limted time
Perpetual Succession
Non of these
A ...........partner is one whose association with the firm is unknown to the general public.
Active
Sleeping
Secret
Nominal
It can continue as long as the partners want and is terminated when any partner gives a notice of
withdrawal from partnership to the firm.
Partnership at will
Particular partnership
Limited partnership
Unlimited partnership
It is optional for a partnership firm to get registered
True
False
Partly true
None of the above
Minors can be admitted to share only (a) of the firm
Partnership firms in India are governed under the Partnership Act (a)
As per Rule 10 of the Companies Act, what is the number of maximum partners in a firm?
(a)
Partnership deed does not include the following
Name of the partners
Capital contributed by each partner
Method of resolving dispute
Rules for who can be admitted as a partner
Who among the following partners does not contribute capital
Active
Sleeping
Secret
Partner by Estoppel
Which are the partners who share profits and losses
Active partner
Sleeping partner
Secret partner
Partner by estoppel
Partnership firm is not legally required to publish its accounts and submit its reports. Which merit does this imply?
Sharing of risks
Secrecy
More funds
Easy formation
Seema and Beena partnered together to provide food and clothing to the needy by collecting it from the neighbourhood. Can this be called a partnership firm
Yes
No
Maybe
None of the above
