Tag: registration of partnership firm

Questions Related to registration of partnership firm

To avoid misunderstanding between the partners, the partners need  _________________.

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

  1. clear mutual understanding

  2. clear communication between partners

  3. clear agreement of terms and conditions

  4. clear objectives

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Correct Option: C

A partnership  deed is a _________________.

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

  1. involuntary association

  2. voluntary association

  3. beneficiary association

  4. unavoidable association

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Correct Option: B

The application of the registration of the firm should be signed by ____________.

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

  1. any one of the partner

  2. two or more partners

  3. all the partners of the firm

  4. partner that represents all other partners

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Correct Option: C

The consequences of non-registration of a firm are ______________.

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

  1. a partner of an unregistered firm cannot file a suit against the firm or other partners,

  2. the firm cannot file a suit against third parties

  3. the firm cannot file a case against the partners

  4. all of the above

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Correct Option: D

__________ constitutes as an evidence of agreement.

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

  1. Oral agreement

  2. Written agreement

  3. Mutual understanding

  4. Similar objectives

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Correct Option: B

Partnership is an agreement between _______________.

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

  1. entities in a business

  2. two people

  3. organisations

  4. friends

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Correct Option: A

Which of the following are included in a partnership deed?

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

  1. Duties and obligations of the partners

  2. Distribution of profits and losses

  3. Terms governing admission,retirement and expulsion of a partner

  4. All of the Above

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Correct Option: D

Partnership business in India is governed by India Partnership Act of ____________.

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

  1. $1913$

  2. $1932$

  3. $1984$

  4. $1928$

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Correct Option: B

In the absence of an agreement profit and loss are divided by partners in the ratio of __________.

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

  1. capital put by members

  2. equally amongst all the partners

  3. time devoted by each partners

  4. none of these.

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Correct Option: B

An unregistered firm can bring an action in criminal court against ________________.

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

  1. a partner who steals the property of the partnership firm

  2. a partner who purposely damages the property of the partnership firm

  3. A&B

  4. none of the above

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Correct Option: C