Tag: partnership 3 - registration of a partnership firm

Questions Related to partnership 3 - registration of a partnership firm

The unregistered firm does not have a ____________.

business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

  1. right to file a suit on third party

  2. right to acquire property

  3. right to transfer property

  4. all of the above.

Show answer
Correct Option: A

Which of the following is not effected due to Non-registration of a firm?

business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

  1. Suit by third party

  2. Official receiver's right to recover the property of insolvent partner

  3. Partner's right to suit for dissolution of firm

  4. All of the above

Show answer
Correct Option: D

In case of Unregistered Firms, public notice is given in the following manner ____________.

business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

  1. publishing the Notice in the Official Gazette.

  2. publishing the Notice in one vernacular newspaper circulating in the district where the Firm's principal place of business is situated.

  3. either (a) or (b).

  4. both (a) and (b).

Show answer
Correct Option: D

Which of the following does not require public notice in case of a Registered Firm?

business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

  1. Admission of a Partner

  2. Retirement of a Partner

  3. Expulsion of a Partner

  4. Dissolution of the Firm.

Show answer
Correct Option: A

When a partnership is not registered, a partnership firm is___________.

business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

  1. deemed to be an illegal association and is allowed to carry on business.

  2. allowed to carry on business, subject to payment of penalty.

  3. allowed to carry on business, subject to certain disabilities.

  4. allowed to continue the business.

Show answer
Correct Option: C

The name under which partnership business is carried on is called _________.

business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

  1. Firm name

  2. Firm

  3. Business name

  4. Owners name

Show answer
Correct Option: A

As per Section $(2)$b of the Act the term "business" includes every __________________.

business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

  1. Trade

  2. Trade and Occupation

  3. Trade, occupation and profession

  4. Trade, occupation, profession and art

Show answer
Correct Option: C

Sharing of profits is _________ evidence of the existence of partnership.

business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

  1. Not a conclusive

  2. Prima facie

  3. Acceptable

  4. Collaborative

Show answer
Correct Option: B

Which of the following act is within the implied authority?

business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

  1. Enter into partnership on behalf of the firm

  2. Submit to arbitration, a dispute relating to the business of the firm

  3. Pledging goods of the firm as security

  4. Open a bank account on behalf of the firm in the partner's own name

Show answer
Correct Option: C

Which of the following act is within the implied authority?

business organisation and correspondence partnership 3 - registration of a partnership firm partnership deed registration of partnership registration of partnership firm

  1. Acquire immovable property on behalf of the firm

  2. Borrowing money on behalf of the firm

  3. Enter into partnership on behalf of the firm

  4. Transfer immovable property belonging to the firm

Show answer
Correct Option: B