Indian Partnership Act MCQ question and answer

11

Sub-section (3) of section 58 of the Indian Partnership Act, 1932, furnishes certain words which

A) Can always form part of the firm name B) Can never form part of the firm name C) Which the firm name shall not contain without the written consent of the State Government D) Which the firm name shall not contain without the written permission of the Central Government

Discuss

Answer & Solution

Answer: Option C

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12

Section 31 of the Indian Partnership Act, 1932 is regarding

A) Introduction of a partner into an already existing partnership firm B) Introduction of a minor into the partnership firm as partner C) Expulsion of a partner D) None of the above

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Answer & Solution

Answer: Option A

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13

A partnership firm is entitled to enter into a partnership with

A) Another firm B) Hindu undivided family C) An individual D) Neither (A) nor (B) nor (C)

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Answer & Solution

Answer: Option D

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14

Who among the following are not the partners?

A) A Hindu undivided family carrying on a family business B) Burmese Buddhist brothers carrying business C) A Muslim family carrying on a family business D) Hindu brothers not being a Hindu undivided family carrying on business

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Answer & Solution

Answer: Option A

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15

The term 'business' has been defined under

A) Section 2(a) B) Section 2(b) C) Section 2(d) D) Section 2(e)

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Answer & Solution

Answer: Option B

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16

If two firms have a common partner, notice which is imputable to one of them is imputable to the other provided

A) It relates to the affairs of a client of either firm B) If relates to the customer of either firm C) It relates to the business of that other firm D) Either (A) or (B) or (C)

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Answer & Solution

Answer: Option C

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17

Under Section 10, every partner has a duty to indemnify the firm for any loss caused to the firm by his in the conduct of the business of the firm.

A) Negligence B) Wrongful act C) Fraud D) All of the above

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Answer & Solution

Answer: Option C

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18

The 'notice to a partner' as contemplated by section 24 of the Indian Partnership Act, 1932 should relate to

A) The affairs of a partner B) The affairs of the firm C) The affairs of the client of the firm D) Either (A) or (B) or (C)

Discuss

Answer & Solution

Answer: Option B

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19

Every partner is jointly and severally liable for all acts of the firm. However, a minor can be admitted to the benefits of the firm. Liability of a partner is unlimited and he is personally liable for the acts of the firm. The liability of the minor in case of the acts of the firm is

A) Personally liable for such acts B) Not at all liable for such acts C) Not personally liable, it is only his share which is liable for the acts of the firm D) Liable to the extent as it told by other partners

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Answer & Solution

Answer: Option C

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20

The date of dissolution of a firm where the court orders for dissolution of a firm on the ground of insanity of a partner under section 44(a) of the Act, shall be

A) The date of insanity of the partner B) The date on which the suit for dissolution was filed C) The date of the order D) The date of the order or any other date fixed by the court

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Answer & Solution

Answer: Option D

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Indian Partnership Act MCQ question and answer | Law MCQ question