Indian Partnership Act MCQ question and answer | Law MCQ question Page-8 section-5

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71.
The dissolution by notice as described under section 43 of the Indian Partnership Act, 1932, is applicable where the partnership is

A. At will

B. For a fixed term

C. For a specific adventure

D. All the above

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72.
Within how many months of attaining majority, a minor admitted into the benefits of a partnership firm must decide whether he wants to become a partner in the firm?

A. Two

B. Three

C. Six

D. Twelve

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73.
In which of the following cases it was held by the Supreme Court that partnership firm is not a separate legal entity apart from the partners?

A. Duli Chand Laxmi Narayan v. Commissioner of Income Tax

B. K. T. Chettair v. E. M. I. Muthappa

C. Addanki Narayanappa v. Bhaskara Krishnappa

D. None of the above

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74.
"Partnership" means

A. Joint venture

B. Agreement between the persons to share the profit of a business carried on between them

C. Agreement between the persons to do some work

D. None of the above

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75.
Match List I with List II and select the correct answer using the given below:

List I List II

a. Partnership not created by status 1. CST v. Kelukutty

b. Essentials of partnership 2. Kshetra Mohan v. Commr. of Excess Profit Tax

c. Joint Hindu Family and partnership 3. Rakesh Kumar, Dinesh Kumar v. U. G. Hotels and Resorts Ltd.

d. Partnership between outsiders and joint family 4. Canpat v. Annaji

A. a-3, b-1, c-4, d-2

B. a-1, b-3, c-4, d-2

C. a-3, b-1, c-2, d-4

D. a-4, b-2, c-1, d-3

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76.
Where on the outgoing of a partner, other partners continue in business without a final settlement of accounts, under the scheme of section 37 of the Indian Partemership Act, 1932 the outgoing partner is entitled to

A. Interest on the unpaid capital

B. Share in the profits

C. Both (A) and (B)

D. Either (A) or (B)

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77.
Match List-I with List-II and select the correct answer using the given below:

List I List II

a. Mutual Rights and Liabilities of Partners 1. Section 34 of Partnership Act

b. Dissolution of Partnership 2. Section 13 of Partnership Act

c. Retirement of a Partner 3. Section 39 of Partnership Act

d. Insolvency of a Partner 4. Section 32 of Partnership Act

A. a-1, b-2, c-4, d-3

B. a-2, b-3, c-4, d-1

C. a-3, b-2, c-1, d-4

D. a-1, b-2, c-3, d-4

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78.
In which of the following cases the Supreme Court held that by agreement between the partners, a partner can be given remuneration for attending partnership work:

A. V. D. Dhanwatey v. CIT

B. CIT v. Juggilal

C. Dulichand v. CIT

D. None of the above

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79.
The term 'partnership' has been defined under

A. Section 3

B. Section 4

C. Section 5

D. Section 6

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80.
Section 21 of the Indian Partnership Act, 1932, deals with

A. A partner's position with regard to other partners for acts done in an emergency

B. A partner's position with regard to third parties for acts done in an emergency

C. A firm's position with regard to third parties for acts done by a partner in an emergency

D. Both (B) and (C)

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1 2 3 4 5 6 7 8 9 10

List I	List II
a. Partnership not created by status	1. CST v. Kelukutty
b. Essentials of partnership	2. Kshetra Mohan v. Commr. of Excess Profit Tax
c. Joint Hindu Family and partnership	3. Rakesh Kumar, Dinesh Kumar v. U. G. Hotels and Resorts Ltd.
d. Partnership between outsiders and joint family	4. Canpat v. Annaji

List I	List II
a. Mutual Rights and Liabilities of Partners	1. Section 34 of Partnership Act
b. Dissolution of Partnership	2. Section 13 of Partnership Act
c. Retirement of a Partner	3. Section 39 of Partnership Act
d. Insolvency of a Partner	4. Section 32 of Partnership Act

Indian Partnership Act MCQ question and answer | Law MCQ question

71. The dissolution by notice as described under section 43 of the Indian Partnership Act, 1932, is applicable where the partnership is

Answer & Solution

72. Within how many months of attaining majority, a minor admitted into the benefits of a partnership firm must decide whether he wants to become a partner in the firm?

Answer & Solution

73. In which of the following cases it was held by the Supreme Court that partnership firm is not a separate legal entity apart from the partners?

Answer & Solution

74. "Partnership" means

Answer & Solution

Answer & Solution

76. Where on the outgoing of a partner, other partners continue in business without a final settlement of accounts, under the scheme of section 37 of the Indian Partemership Act, 1932 the outgoing partner is entitled to

Answer & Solution

Answer & Solution

78. In which of the following cases the Supreme Court held that by agreement between the partners, a partner can be given remuneration for attending partnership work:

Answer & Solution

79. The term 'partnership' has been defined under

Answer & Solution

80. Section 21 of the Indian Partnership Act, 1932, deals with

Answer & Solution

Read More Section(Indian Partnership Act)

71.
The dissolution by notice as described under section 43 of the Indian Partnership Act, 1932, is applicable where the partnership is

72.
Within how many months of attaining majority, a minor admitted into the benefits of a partnership firm must decide whether he wants to become a partner in the firm?

73.
In which of the following cases it was held by the Supreme Court that partnership firm is not a separate legal entity apart from the partners?

74.
"Partnership" means

76.
Where on the outgoing of a partner, other partners continue in business without a final settlement of accounts, under the scheme of section 37 of the Indian Partemership Act, 1932 the outgoing partner is entitled to

78.
In which of the following cases the Supreme Court held that by agreement between the partners, a partner can be given remuneration for attending partnership work:

79.
The term 'partnership' has been defined under

80.
Section 21 of the Indian Partnership Act, 1932, deals with