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MCQ’S

1. Features of a partnership firm are :
(A) Two or more persons are carrying common business under an
agreement. AH
(B) They are sharing profits and losses in the fixed ratio.
(C) Business is carried by all or any of them acting tor all as an agent.
(D) All of the above.

2. Following are essential elements of a partnership firm except:
(A) At least two persons
(B) There is an agreement between all partners UA
(C) Equal share of profits and losses
(D) Partnership agreement is for some business.

3. In case of partnership the act of any partner is :

(A) Binding on all partners
(B) Binding on that partner only UE
(C) Binding on all partners except that particular partner
(D) None of the above

4. Which of the following statement is true?
(A) a minor cannot be admitted as a partner
(B) a minor can be admitted as a partner, only into the benefits of the
partnership
(C) a minor can be admitted as a partner but his rights and liabilities are CA
same of adult partner
(D) none of the above

5. Oustensible partners are those who UE
(A) do not contribute any capital but get some share of profit for lending their
name to the business
(B) contribute very less capital but get equal profit
(C) do not contribute any capital and without having any interest in the
business, lend their name to the business
(D) contribute maximum capital of the business