51
Under section 44(b) of the Act the court can order dissolution of a firm, where a partner becomes
A)
Permanently incapable of performing his duties as partner
B)
Temporarily incapable of performing his duties as partner
C)
Either (A) or (B)
D)
Neither (A) nor (B)
Answer & Solution
Answer: Option
A
52
Out of the following which is not the correct statement regarding 'retirement of a partner'?
A)
A partner may retire with the consent of all other partners
B)
A partner may retire in accordance with an express agreement by the partners
C)
A partner may retire with the consent of any other partner
D)
Where the partnership is at will, a partner may retire, by giving notice in writing to all the other partners of his intention to retire
Answer & Solution
Answer: Option
C
53
On death of a partner, in absence of any term to the contrary, a partnership firm is dissolved:
A)
Where the Will of deceased partner states that the partnership will be dissolved
B)
When last of the erstwhile partner dies
C)
When there were only two partners and one dies
D)
When a minor admitted to benefit of partnership dies
Answer & Solution
Answer: Option
C
54
Where a firm's dissolution is brought about by a regular deed of dissolution which purports to effect the dissolution from an anterior date
A)
The deed of dissolution shall effect the dissolution from the date of the deed
B)
The deed of dissolution shall effect the dissolution from the anterior date mentioned in the deed
C)
The deed of dissolution shall be ineffective and a fresh agreement of dissolution has to be entered into
D)
Only (C) and not (A) or (B)
Answer & Solution
Answer: Option
A
55
Under section 14 of the Indian Partnership Act, 1932, goodwill of the business is
A)
Property of the firm
B)
Property of the managing partner
C)
Property of the partner having the highest share in the profits
D)
Property of the partner having the lowest share in the profits
Answer & Solution
Answer: Option
A
56
The term 'notice' under section 24 of the Indian Partnership Act, 1932 has a reference to
A)
Actual notice
B)
Constructive notice
C)
Deemed notice
D)
All the above
Answer & Solution
Answer: Option
A
57
Under the Indian Partnership Act, 1932, where the partnership is at will, a partner way retire.
A)
By giving oral notice expressing his intention
B)
By giving written notice expressing his intention
C)
Without any notice
D)
None of the above
Answer & Solution
Answer: Option
B
58
The mode of determining the existence of partnership has been laid down in
A)
Section 5
B)
Section 6
C)
Section 9
D)
Section 10
Answer & Solution
Answer: Option
B
59
Where in a partnership firm, one of the partner retires and another joins, and no public notice of retirement having been given, for the price of goods supplied after the joining of the new partner, the supplier of goods can sue
A)
The new partner
B)
The old partner
C)
Either (A) or (B)
D)
Both (A) and (B)
Answer & Solution
Answer: Option
C
60
The position of retired partner is provided under
A)
Section 30
B)
Section 31
C)
Section 32
D)
Section 33
Answer & Solution
Answer: Option
C
