61
Non-registration of a partnership firm under section 69 of the Indian Partnership Act, 1932, is not a bar for a firm in respect of
A)
Civil proceedings
B)
Criminal proceedings
C)
Both civil and criminal proceedings
D)
Neither civil nor criminal proceedings
Answer & Solution
Answer: Option
B
62
Subject to contract between the partners, a firm is dissolved:
A)
If constituted for a fixed term, by the expiry of that term
B)
If constituted to carry out one or more adventures or undertakings, by the completion thereof
C)
By the death of a partner
D)
All the above
Answer & Solution
Answer: Option
C
63
Which of the following is not the duty of a partner a firm?
A)
To carry on the business of the to greatest common advantage
B)
To be just and faithful to each other
C)
To render true accounts and full information of all things affecting the firm to any partner but not to his legal heir or legal representative
D)
To render true accounts and full information of all things affecting the firm to any partner, his legal heir or legal representative
Answer & Solution
Answer: Option
C
64
The bar under section 69 of the Indian Partnership Act, 1932 applies to
A)
Arbitration proceedings
B)
Execution proceedings
C)
Both (A) and (B)
D)
Neither (A) nor (B)
Answer & Solution
Answer: Option
A
65
Section 51 of the Indian Partnership Act, 1932 applies to
A)
Partnership at will
B)
Partnership for a particular undertaking
C)
Partnership for a fixed term
D)
All the above
Answer & Solution
Answer: Option
C
66
The implied authority of a partner, by virtue of section 23 of the Indian Partnership Act, 1932, extends to making admissions
A)
In a litigation
B)
In the ordinary course of business
C)
In a litigation and in the ordinary course of business
D)
Only in a litigation and not in the ordinary course of business
Answer & Solution
Answer: Option
B
67
Section 12 of the Indian Partnership Act, 1932 is
A)
A statement of rights of the partners in reference to the conduct of business
B)
A statement of duties of the partners in the conduct of the business
C)
A mixed statement of rights and duties of partners in reference to the conduct of the business
D)
Neither (A) nor (B)
Answer & Solution
Answer: Option
C
68
Where at the stage of refund of capital to partners, it is found that the assets are not sufficient to repay each partner his capital in full, then the deficiency will have to be made by the partners in
A)
Capital contribution/sharing ratio
B)
Profit sharing ratio
C)
Equal proportion
D)
Either (A) or (B) or (C)
Answer & Solution
Answer: Option
B
69
In the English law, the liability of each partner is
A)
Joint in respect of the firm's contracts and joint & several in respect of the firm's wrongs
B)
Joint & several in respect of the firm's contracts and joint in respect of the firm's wrongs
C)
Joint in respect of both - the firm's contracts and the firm's wrongs
D)
Joint & several in respect of both - the firm's contracts and the firm's wrongs
Answer & Solution
Answer: Option
A
70
Where the existence of a partnership is in issue, the court shall
A)
Always appoint a receiver
B)
Never appoint a receiver
C)
Be slow in appointing the receiver
D)
Either (A) or (C)
Answer & Solution
Answer: Option
C
