41
Under section 19(1) of the Partnership Act, 1932, the acts of a partner which are done to carry on, in usual way, business of the kind carried on by the firm
A)
Binds the firm
B)
Binds the managing partner
C)
Binds the sleeping partner
D)
None of above
Answer & Solution
Answer: Option
A
42
According to Section 11 of the Act, the mutual rights and duties of partners may be determined by
A)
Contract between the Partners subject to the provisions of the Act
B)
An express contract between the Partners
C)
The provisions of the act
D)
None of the above
Answer & Solution
Answer: Option
A
43
If a suit is filed for recovery and transaction is made subsequent to retirement of partners from firm but plaintiff is not aware of that fact then the partners
A)
Cease to be as partners
B)
Continue as partners and liable for transaction
C)
Are known to be as sleeping partners
D)
Are called as retired partners
Answer & Solution
Answer: Option
B
44
The principles contained in section 37 of the Indian Partnership Act, 1932, apply where a partner ceases to be a partner by
A)
Voluntary retirement from the firm
B)
Death
C)
Expulsion
D)
Either (A) or (B) or (C)
Answer & Solution
Answer: Option
D
45
A suit for dissolution of a firm on the ground of permanent incapability of a partner, under section 44(b) of the Act can be filed by
A)
Any partner including the partner who has become permanently incapable
B)
Any partner, other than the partner who has become permanently incapable
C)
The partner who has become permanently incapable only
D)
Only (A) and not (B) or (C)
Answer & Solution
Answer: Option
B
46
Section 39 of the Indian Partnership Act, 1932, defines dissolution of a firm as
A)
Dissolution between some of the partners of a firm
B)
Dissolution between majority of the partners of a firm
C)
Dissolution between all the partners of the firm
D)
Either (A) or (B) or (C)
Answer & Solution
Answer: Option
C
47
Section 32 of the Indian Partnership Act, 1932, deals with
A)
Liability of new partner
B)
Rights of new partner
C)
Retirement of a partner
D)
Insolvency of a partner
Answer & Solution
Answer: Option
C
48
Section 12(c) of the Indian Partnership Act provides for a
A)
Rule of majority
B)
Rule of unanimity
C)
Both (A) and (B)
D)
Only (A) and not (B)
Answer & Solution
Answer: Option
C
49
So long as a minor remains admitted to the benefits of the firm under section 30(4)of the Act, the minor is
A)
Competent to sue the firm for account and payment of his share of profits of the firm
B)
Competent to sue the firm for account and payment of his share of property of the firm
C)
Competent to sue the firm for account and payment of his share of both profits and property of the firm
D)
Incompetent to sue the firm for account or payment of his share either of profits or property of the firm
Answer & Solution
Answer: Option
D
50
A partner can retire from a partnership by
A)
Consent of all the partners
B)
Where there is an agreement about retirement, in accordance with the terms of that agreement whether the other partners are willing or not
C)
Giving a notice of his intention to retire
D)
Either (A) or (B) or (C)
Answer & Solution
Answer: Option
D
