41
Section 8 of the Indian Partnership Act, 1932 provides for
A)
A particular partnership
B)
A general partnership
C)
A partnership at will
D)
All the above
Answer & Solution
Answer: Option
A
42
Section 27 of the Act recognizes the liability of the firm for a particular kind of wrong done by a partner.
A)
Misapplication of money or property received from a third party
B)
Misusing the authosrity vested
C)
Acts done against public policy
D)
None of the above
Answer & Solution
Answer: Option
A
43
Which of the dissolution does not amount to compulsory dissolution?
A)
By adjudication of all the partners as insolvent
B)
By adjudication of all but one partner as insolvent
C)
By the happening of an event which makes it unlawful for the business of the firm to be carried on
D)
Dissolution with the consent of all the partners
Answer & Solution
Answer: Option
D
44
Generally, an introduction of a new partner in a partnership firm would require the consent of;
A)
The majority of the partners
B)
All the partners
C)
The majority of partners barring the dormant partners
D)
The partners having majority share in the firm
Answer & Solution
Answer: Option
B
45
A partnership firm is required to be registered under
A)
The Indian Registration Act, 1908
B)
The Companies Act, 1956
C)
The Indian Partnership Act, 1932
D)
Indian Contract Act, 1872
Answer & Solution
Answer: Option
C
46
Partnership is . . . . . . . .
A)
Juristic person
B)
Group of people
C)
Not a juristic person
D)
A firm
Answer & Solution
Answer: Option
C
47
In Commissioner of Income Tax v. Seth Govindram Sugar Mills, AIR 1966 SC 24, it has been held
A)
A clause in the partnership agreement enabling a partner to nominate his successor does not apply to a partnership of two partners which is dissolved by the death of one of them
B)
A clause in the partnership agreement enabling a partner to nominate his successor is valid in case of a partnership of two persons which may be dissolved by the death of one of them
C)
None can be introduced in the partnership by nomination
D)
None can be introduced in the partnership without the consent of all the partners
Answer & Solution
Answer: Option
A
48
For holding the firm liable for the wrongful acts of a partner, under section 26 of the Indian Partnership Act, 1932, the act by the partner must be done
A)
In the ordinary course of business of the firm
B)
With the authority of his co-partners
C)
Either (A) or (B)
D)
Only (B) and not (A)
Answer & Solution
Answer: Option
C
49
Whether a partnership exists or not is a
A)
Question of fact
B)
Question of law
C)
Mixed question of fact and law
D)
Either (A) or (C)
Answer & Solution
Answer: Option
D
50
Which of the following can be questioned by a transferee of a partner's interest in the firm
A)
The accounts of profits as is declared by the other partners
B)
The arrangement made by the partners as between themselves relating to their rights or profits
C)
The share of profits of the transferring partner being given to him
D)
Neither (A) nor (B) nor (C)
Answer & Solution
Answer: Option
D
