Indian Partnership Act - Practice Test

[#436] Section 16 of the Indian Partnership Act states the

(A) Duties of the partners

(B) Rights of the partners

(C) Privileges of the partners

(D) All the above

Correct Answer

(A) Duties of the partners

[#437] For the purposes of section 44(f) of the Indian Partnership Act, 1932, the loss must be attributable to

(A) Any inherent defect in the business

(B) The mismanagement

(C) Either (A) or (B)

(D) Both (A) and (B)

Correct Answer

(A) Any inherent defect in the business

[#438] Dissolution of a firm can be carried by

(A) Expiry of the term for which it was constituted

(B) Adjudication of a partner as an insolvent

(C) Death of a partner

(D) All of these

Correct Answer

(D) All of these

[#439] Where an individual is a common partner in two firms

(A) No action can be brought by one firm against the other upon any transaction between them so long as that individual continues to be a common partner

(B) An action can be brought by one firm against the other upon any transaction between them even though that individual continues to be a common partner

(C) An action can be brought by one firm against other firm upon any transaction between them but the common partner shall not be arrayed as a defendant

(D) An action can be brought by one firm against other firm upon any transaction between them but the common partner shall be excluded from participating in the proceedings

Correct Answer

(A) No action can be brought by one firm against the other upon any transaction between them so long as that individual continues to be a common partner

[#440] Under section 30 of the Indian Partnership Act, 1932, a minor can be admitted to the benefits of the partnership

(A) With the consent of all the partners

(B) With the majority decision of the partners

(C) By any of the partners without the consent of other partners

(D) By the managing partner without the consent of other partners

Correct Answer

(A) With the consent of all the partners

Indian Partnership Act - Study Mode

[#436] Section 16 of the Indian Partnership Act states the

Correct Answer

[#437] For the purposes of section 44(f) of the Indian Partnership Act, 1932, the loss must be attributable to

Correct Answer

[#438] Dissolution of a firm can be carried by

Correct Answer

[#439] Where an individual is a common partner in two firms

Correct Answer

[#440] Under section 30 of the Indian Partnership Act, 1932, a minor can be admitted to the benefits of the partnership

Correct Answer