21
Expulsion of a partner from partnership without affording him the opportunity of being heard is
A)
Valid
B)
Voidable at the instance of the expelled partner
C)
Voidable at the instance of any copartner
D)
Legal
Answer & Solution
Answer: Option
B
22
Under section 18 of the Indian Partnership Act, 1932, partners are the agents
A)
Of the firm for business purposes
B)
Of the co-partners in individual or personal capacity
C)
Of the firm for purposes outside the business
D)
Of all (A), (B) and (C)
Answer & Solution
Answer: Option
A
23
A partner appointed as receiver by the court on the usual terms is
A)
Entitled as such to his remuneration and costs out of the assets in his hand, although as a partner, he is in debt and unable to pay
B)
Entitled as such to his remuneration and costs out of the assets in his hand only if as a partner is not in debt
C)
Not entitled to any remuneration and costs
D)
Not entitled to any remuneration but only costs
Answer & Solution
Answer: Option
A
24
Under section 36 of the Indian Partnership Act, 1932, the position of a retired partner is
A)
The same as that of a seller of goodwill
B)
Different from that of a seller of goodwill
C)
The same as that of a partner who has died
D)
The same as that of a partner who has been adjudicated as insolvent
Answer & Solution
Answer: Option
A
25
Who amongst the following is not liable, in the absence of a public notice of dissolution, under section 45 of the Indian Partnership Act, 1932, after dissolution of the firm
A)
Deceased partner
B)
Insolvent partner
C)
Dormant partner
D)
All the above
Answer & Solution
Answer: Option
D
26
Liability of a partner towards third party for the acts done by the other partner in the course of business of the firm is
A)
No liability
B)
Jointly liable and not severally
C)
Jointly and severally liable
D)
Liable to the extent of his share
Answer & Solution
Answer: Option
C
27
Where a firm whose proposed name is similar to that of a firm already registered, the registrar of firms
A)
Has to refuse registration
B)
Cannot refuse registration
C)
May refuse registration
D)
Has to retum the statement to the party for change of name
Answer & Solution
Answer: Option
B
28
Where a partner in a firm is adjudicated an insolvent, the said partner
A)
Ceases to be a partner in the firm
B)
Continues to be a partner and his status is that of a retired partner
C)
Continues to be a partner and his status is that of a dormant partner
D)
Either (A) or (C)
Answer & Solution
Answer: Option
A
29
The implied authority of a partner, under section 19 of the Act does not extend to
A)
Withdrawal of a suit or proceedings filed on behalf of the firm
B)
Submit a dispute relating to the business of the firm to arbitration
C)
Both (A) and (B)
D)
Only (A) and not (B)
Answer & Solution
Answer: Option
C
30
Section 14 of the Indian Partnership Act, 1932 is
A)
Exhaustive
B)
Inclusive
C)
Conclusive
D)
Both (A) and (C)
Answer & Solution
Answer: Option
A
