Indian Partnership Act - Practice Test

(A) Result of an agreement

(B) Organised to carry on business

(C) Carried on by all or any of them acting for all

(D) Separate legal entity

(D) Separate legal entity

(A) To enter into a partnership with other persons in another business

(B) To borrow money in caseof commercial firm

(C) Either (A) or (B)

(D) Neither (A) nor (B)

(A) To enter into a partnership with other persons in another business

(A) Right to take part in business

(B) Right to have access to account books

(C) Right to share profits

(D) Right to receive remuneration

(D) Right to receive remuneration

(A) To restrain any other partner or representatives from carrying on similar business in the firm name

(B) Has no right to restrain any other partner or representatives from carrying on similar business in the firm name

(C) Only (B) is correct

(D) None of above

(A) To restrain any other partner or representatives from carrying on similar business in the firm name

(A) Three years from the end of the financial year in which the death of the partner has taken place

(B) Three years from the end of the calendar year in which the death of the partner has taken place

(C) Three years from the death of the deceased partner

(D) Either (A) or (B) or (C)

(C) Three years from the death of the deceased partner

Indian Partnership Act - Study Mode