Page 2 - HA1

6. Sleeping partners are those who CD

(A) take active part in the conduct of the business but provide no capital.
However, salary is paid to them.
(B) do not take any part in the conduct of the business but provide capital
and share profits and losses in the agreed ratio
(C) take active part in the conduct of the business but provide no capital.
However, share profits and losses in the agreed ratio.
(D) do not take any part in the conduct of the business and contribute no
capital. However, share profits and losses in the agreed ratio.

7. The relation of partner with the firm is that of:
(A) An Owner
(B) An Agent
(C) An Owner and an Agent AE
(D) Manager

8. What should be the minimum number of persons to form a Partnership :
(A) 2
(B) 7
(C) 10 AH
(D) 20

9. Number of partners in a partnership firm may be :
(A) Maximum Two
(B) Maximum Ten
(C) Maximum One Hundred CA
(D) Maximum Fifty

10, Liability of partner is :
(A) Limited
(B) Unlimited UA
(C) Determined by Court
(D) Determined by Partnership Act