81
An application for rectification of mistake(s) in the document filed with the Registrar of firms, by a firm, under section 64 of the Indian Partnership Act, 1932
A)
Has to be signed by all the partners
B)
Has to be signed by the majority of the partners
C)
Has to be signed by the managing partner only
D)
Has to be signed by any partner
Answer & Solution
Answer: Option
A
82
What is a partnership at will?
A)
Created under a will by testator
B)
Created by consent of all partners
C)
Partnership without provision for duration
D)
None of the above
Answer & Solution
Answer: Option
C
83
The partner's authority to act for the firm and to bind the co-partners under section 47 of the Indian Partnership Act, 1932, continues
A)
So far as it is necessary for the purposes of winding up the affairs of the firm after dissolution
B)
To complete transactions begun, but not finished at the time of dissolution of the firm
C)
Both (A) and (B)
D)
Only (B) and not (A)
Answer & Solution
Answer: Option
C
84
Dissolution of a firm has been defined under
A)
Section 39 of the Act
B)
Section 38 of the Act
C)
Section 41 of the Act
D)
Section 40 of the Act
Answer & Solution
Answer: Option
A
85
A partner can transfer his interest in the firm, under section 29 of the Indian Partnership Act, 1932
A)
Absolutely
B)
By mortgage
C)
By the creation of charge
D)
Either (A) or (B) or (C)
Answer & Solution
Answer: Option
D
86
The method of retirement of a partner under the Indian Partnership Act, 1932 has been explained in
A)
Section 31
B)
Section 33
C)
Section 34
D)
Section 32
Answer & Solution
Answer: Option
D
87
The right to indemnity is lost on
A)
The dissolution of the partnership
B)
The death of the partner
C)
The retirement of the partner
D)
Neither (A) nor (B) nor (C)
Answer & Solution
Answer: Option
B
88
What is true about the Indian Partnership Act, 1932 (9 of 1932) after the enactment of the Limited Liability Partnership Act, 2008 (6 of 2009).
A)
The Act is not applicable to Limited Liability Partnership Firms
B)
The Act is repealed by the Limited Liability Partnership Act, 2008
C)
The Act is also applicable to Limited Liability Partnership firms
D)
The Act was amended by the Limited Liability Partnership Act, 2008
Answer & Solution
Answer: Option
A
89
Is it necessary to show HUF trading firm in transaction of Bills?
A)
No
B)
Yes
C)
Mandatory
D)
Conditionals
Answer & Solution
Answer: Option
A
90
The rule of majority contained in section 12(c) of the Indian Partnership Act, 1932 is applicable in
A)
Trivial matters
B)
Ordinary matters
C)
Fundamental matters
D)
All the above
Answer & Solution
Answer: Option
B
