81
The rule under section 31(2) of the Indian Partnership Act, 1932, recognises
A)
Section 30 as its exception
B)
Section 31(1) as its exception
C)
Both section 30 and section 31(1) as its exceptions
D)
No exception
Answer & Solution
Answer: Option
A
82
In which of the following circumstances Magistrate has power to convert summon cases into warrant cases?
A)
Without any ground
B)
In the interest of justice
C)
If prosecutor makes plea
D)
None of the above
Answer & Solution
Answer: Option
B
83
In a partnership property, a partner has
A)
Something in the nature of personal ownership
B)
Only certain rights
C)
Both (A) and (B)
D)
Either (A) or (B)
Answer & Solution
Answer: Option
B
84
Under section 47 of the Indian Partnership Act, 1932, the authority of a partner is
A)
Limited to certain purposes
B)
General and not limited to certain purposes
C)
Absolute
D)
The authority of a partner as in emergency
Answer & Solution
Answer: Option
A
85
A partner is not accountable to the firm, for the profits derived for himself, as provided under section 16 of the Indian Partnership Act, 1932
A)
By using the property of the partnership
B)
From any transaction of the firm
C)
By using the firm name
D)
Neither (A) nor (B) nor (C)
Answer & Solution
Answer: Option
D
86
All the benefits and liabilities arising out of a contract made on behalf of a partnership do not
A)
Belong to the partnership if the contract has been performed before the dissolution of the firm
B)
Belong to the partnership if the contract has been performed before the retirement of the firm
C)
Belong to the partnership if the contract has been performed after the dissolution of the firm or retirement of a partner
D)
None of the above
Answer & Solution
Answer: Option
D
87
Retirement of a partner means
A)
Retirement from subsisting liabilities
B)
Retirement from a firm
C)
Both (A) and (B)
D)
Either (A) or (B)
Answer & Solution
Answer: Option
B
88
When the personal property of a partner is being used in the business of the firm, it
A)
Is a question of fact to be determined with reference to the partner's intention whether it has become the property of the firm
B)
Becomes the joint estate
C)
Remains an estate of the partner
D)
Is a question of law to be decided on legal principles
Answer & Solution
Answer: Option
A
89
What is interest on drawings?
A)
Credited to partner's current a/c
B)
Not shown in current account
C)
Debited to partner's current a/c
D)
None of the above
Answer & Solution
Answer: Option
C
90
Under section 29 of the Indian Partnership Act, 1932, a partner has
A)
A right to transfer his interest in the partnership firm only with the consent of all the other partners
B)
A right to transfer his interest in the partnership if permitted by the majority of the partner
C)
A right to transfer his interest in the firm without any rider
D)
No right to transfer his interest in the firm
Answer & Solution
Answer: Option
C
