91
Which is incorrect regarding implied authority of a partner
A)
He can compromise suits or behalf of firm
B)
He can transfer immovable properties of firm
C)
He can enter into partnership on behalf of the firm
D)
All of the above
Answer & Solution
Answer: Option
D
92
Assets of a partnership in the hands of a receiver
A)
Can be attached by a creditor of the firm always
B)
Cannot be attached by a creditor of the firm at all
C)
Cannot be attached by a creditor of the firm without first obtaining the leave of the court
D)
Either (B) or (C)
Answer & Solution
Answer: Option
C
93
Where the instrument of partnership is registered, the period of limitation for a suit for an account and a share of the profits of a dissolved partnership is
A)
Three years from the date of dissolution
B)
Twelve years from the date of dissolution
C)
Thirty years from the date of dissolution
D)
One year from the date of dissolution
Answer & Solution
Answer: Option
A
94
Under section 26 of the Indian Partnership Act, 1932, the liability of the firm for the wrongful act of a partner, arises, if the act is a
A)
Tortious act but not criminal act
B)
Criminal act but not tortious act
C)
Tortious and criminal act
D)
Tortious or criminal act
Answer & Solution
Answer: Option
D
95
A partnership deed that attempts to make a minor a full-fledged partner
A)
Valid
B)
Invalid to the extent of making a minor a full-fledged partner
C)
Voidable
D)
Invalid in its entirety
Answer & Solution
Answer: Option
D
96
Section provides recording of alteration in firm name
A)
64
B)
60
C)
32(3)
D)
None of the above
Answer & Solution
Answer: Option
B
97
A partnership firm may be dissolved
A)
With the consent of all partners
B)
In accordance with a contract between the partners
C)
Both (A) and (B)
D)
None of these
Answer & Solution
Answer: Option
C
98
For a banking business, the maximum number of partners in a partnership, under section 11 of the Indian Companies Act, 1956, can be
A)
Ten
B)
Fifteen
C)
Twenty
D)
Twenty-five
Answer & Solution
Answer: Option
A
99
The effect of holding out is that
A)
The apparent partner becomes the real partner
B)
The liability of the firm arises to those dealing with the firm on that basis
C)
The apparent partner gets certain rights against the firm
D)
All the above
Answer & Solution
Answer: Option
B
100
Section 47 of the Indian Partnership Act, 1932, provides for
A)
Mode of settlement of accounts between partners after dissolution
B)
Rights of partners to have the business wound up after dissolution
C)
Continuing authority of partners for purposes of winding up after dissolution
D)
Liability for acts of the partners done after dissolution
Answer & Solution
Answer: Option
C
