Commerce exams sample papers

MCQ on Indian Partnership Act

indian partnership law questions

The Indian Partnership Act Quiz

Question 1
Minor partner has right with the firm for …..
A
take part in administration
B
profit
C
loss
D
none of these
Question 2
Any partner can utilize the property of firm to personal use ?

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A
At will
B
No
C
As per contract
D
Yes
Question 3
Lien is ….. of the partner

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A
powers
B
liability
C
right
D
duty
Question 4
Agreement in partnership is for …..
A
none of these
B
distribute of profit
C
distribute goods
D
distribute of loss
Question 5
Is minor personally responsible for act of the firm ?
A
Uncertain
B
Sometimes
C
No
D
Yes
Question 6
Minimum members required in partnership firm is …..
A
07
B
10
C
08
D
02
Question 7
A partner can not ……….. with his firm.
A
will
B
deed
C
promissory note
D
contract
Question 8
Every partner has right for …..
A
demand of account
B
none of these
C
doing fraud
D
do not work
Question 9
When partnership firm can not be dissolved compulsorily ?
A
Lawful business of firm
B
Act against law
C
None of these
D
Insolvent
Question 10
When partnership from can be dissolve by agreement ?

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A
By court
B
Death of partners
C
With the consent of all partners
D
When dispute arise
Question 11
Liability of partners is …..
A
limited
B
none of these
C
unlimited
D
voluntary
Question 12
Every partner is ……….. of the other partners.
A
owner
B
principal
C
an agent
D
servant
Question 13
Who is third party in partnership firm?
A
not partner in firm
B
partner in firm
C
temporary partner
D
permanent partner
Question 14
Implied authority of partner is …..
A
to dissolve the firm
B
to create new firm
C
to sign the cheque
D
none of these
Question 15
Maximum partner allowable for banking business is …..

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A
20
B
10
C
07
D
02
Question 16
Can Partnership firm be dissolve by court ?
A
None
B
No
C
Yes
D
No provision in law
Question 17
Partnership for fixed term means …..
A
for fixed term
B
uncertain time
C
none
D
both one & two
Question 18
Group of person is firm …..
A
who are members of H.U.F.
B
who are burinese buddhist husband – wife
C
who are co-owners
D
with whom agreement of sharing of profit is agreed upon
Question 19
Right of buyer of firms goodwill …..
A
none of these
B
to share in dissolved firm
C
to use the firm name
D
to file suit
Question 20
After the dissolution of firm goodwill of firm …..
A
can be changed
B
can be sold
C
can’t do anything
D
can not be sold
Question 21
Property of partnership from mean …..
A
name
B
goodwill
C
reputation
D
patent
Question 22
Dissolution of firm means …..
A
Dissolution of trust
B
dissolution of firm
C
dissolution of partnership
D
Revocation of firm
Question 23
A partner can not transfer his interest without the ……….. of other partners.
A
deed
B
evidence
C
none of these
D
consent
Question 24
When Indian Partnership Act came into effect ?
A
1933
B
1923
C
1932
D
1872
Question 25
What is the object of partnership ?
A
None of these
B
Loss
C
Charity
D
Profit
Question 26
Consequence of non – registration of partnership firm …..
A
it is crime
B
cannot file a suit
C
breach of law
D
file a suit
Question 27
Can Firm be dissolve after the death of any partner ?
A
by court
B
none
C
as per law
D
as per contract
Question 28
Before 1932 under which law the provision of partnership act was made ?

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A
Contract Act 1908
B
Common Law 1782
C
Contract Act 1872
D
Civil Act 1484
There are 28 questions to complete.

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