Business and Commerce MCQ Questions and Solutions with Explanations | Commerce

A. 7

B. 10

C. 50

D. 20

A. Must be oral

B. Must be in writing

C. Can be either oral or in writing

D. Must be in writing on a stamp paper

A. limited up to the amount of his capital in the business

B. Unlimited

C. limited up to the amount of guarantee given by the partner

D. limited up the amount of his capital and loan to the firm if any

A. cannot transfer his share to an outsider

B. can transfer his share to an outsider with the consent of majority partners

C. can transfer his share to an outsider without the consent of any other partners

D. can transfer his share to an outsider with the consent of all other partners

A. is only a servant of the firm

B. becomes a partner by the operation of law

C. becomes a partner by implied agreement

D. becomes a partner from status

A. not entitled to share the profits of the concern

B. entitled to equal share in the profits unless there is an agreement to any other profit sharing ratio

C. not liable for the acts of other partners

D. not able to third parties

A. 2

B. 3

C. 7

D. 10

A. Companies Act 2006

B. Companies Act 1936

C. Companies Act 2012

D. Companies Act 2013

A. rules regarding the internal management of the company

B. rules regarding the constitution and activities of the company

C. rules regarding the external management

D. rules regarding the constitution

A. nominal value of shares

B. extent of their private assets

C. paid up value of shares

D. accounts called up