31
Section provides for recording of entry regarding registration of firm?
A)
Section 49
B)
Section 50
C)
Section 57
D)
Section 59
Answer & Solution
Answer: Option
D
32
Section 40 of the Indian Partnership Act, 1932, provides for
A)
Dissolution by court
B)
Dissolution by notice
C)
Dissolution by agreement
D)
Compulsory dissolution
Answer & Solution
Answer: Option
C
33
Under section 22 of the Indian Partnership Act, 1932 in order to bind a firm, the act by the partner must be done
A)
In his own name
B)
In the name of the managing partner
C)
In the name of the firm
D)
Either (A) or (B) or (C)
Answer & Solution
Answer: Option
C
34
According to Section 30 of the Partnership Act, "at any time within 6 months of his attaining majority or of obtaining knowledge that he had been admitted to the benefits of partnership, whichever date is later, a minor can elect to become or not to become a partner."
A)
Such option is exercised by giving a public notice
B)
If he remains silent and fails to give such a notice there is a presumption that he wants to be a partner and on the expiry of the said 6 months he shall become a partner in the firm
C)
If he did not exercise the option, he will be deemed to become a partner in firm
D)
All are correct
Answer & Solution
Answer: Option
D
35
A partnership firm situated in Delhi institutes a suit for recovery of price of goods sold, supplied and delivered by the said firm to the defendant. The firm is not registered under the Partnership Act.
A)
The suit is not maintainable and the plaint will be rejected
B)
The suit will be admitted but summons of the suit will not be issued to the defendant till the firm is got registered
C)
The suit is maintainable and will be admitted subject to the plaintiff firm paying costs as may be determined by the Court to the defendant
D)
The suit will be admitted, summons thereof ordered to be issued and will be dismissed after trial only if the defendant in the written statement takes such an objection and an issue is framed thereon
Answer & Solution
Answer: Option
A
36
In a partnership at will
A)
A partner of a firm can retire from the firm at any time by giving a notice of his intention to retire to his co-partners
B)
A partner of a firm can dissolve the firm at any time by giving a notice of his intention to dissolve the firm to his co-partners
C)
Either (A) or (B)
D)
Neither (A) nor (B)
Answer & Solution
Answer: Option
C
37
An incoming partner, who has been validly admitted in the firm, is
A)
Both (Not liable for the acts of the firm done before he became a partner) and (Liable for the acts of the firm done after his admission)
B)
Not liable for the acts of the firm done before he became a partner
C)
Liable for the acts of the firm done before he became a partner
D)
Liable for the acts of the firm done after his admission
Answer & Solution
Answer: Option
A
38
The relation of partnership arises from contract and not from status, has been prescribed under
A)
Section 4
B)
Section 5
C)
Section 6
D)
Section 7
Answer & Solution
Answer: Option
B
39
No partnership agreement, what will be the percentage of profit sharing ratio between them?
A)
Unequal
B)
Equal
C)
It will depend on the experience of a partner
D)
It will depend on a partner's capital
Answer & Solution
Answer: Option
B
40
Any act or omission, to be an act of a firm, within the meaning of section 2(a) of the Indian Partnership Act, 1932 must be act or omission of
A)
All the partners
B)
Any of the partner
C)
Agent of the firm
D)
Either (A) or (B) or (C)
Answer & Solution
Answer: Option
D
