CA Foundation Partnership — General Nature of Partnership — practice questions
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Practice CA Foundation Partnership — General Nature of Partnership in the app →Under Section 4 of the Indian Partnership Act, 1932, 'partnership' is the relation between persons who have agThe true test of the existence of a partnership is:Under Section 5, the relation of partnership arises from:Regarding profits and losses in a partnership:Under Section 6, the receipt by a lender of money of a share of profits of a business:With respect to a minor and a partnership firm:The maximum number of partners permitted in a partnership firm (under the Companies (Miscellaneous) Rules, 201Which statement distinguishing a partnership firm from a joint-stock company is correct?Under Section 7, a 'partnership at will' is one where:Where a partnership entered into for a fixed term is continued after the expiry of that term, it becomes a:A partnership formed for a single adventure or undertaking is a 'particular partnership', and it is dissolved:Regarding a partnership deed:An active (ostensible) partner who retires from the firm:A sleeping (dormant) partner:A 'nominal partner' is one who:A 'partner in profits only':An incoming partner admitted into an existing firm is:An outgoing (retiring) partner remains liable to third parties for the firm's acts:Under Section 28, a person who by words or conduct represents himself, or knowingly permits himself to be reprA 'sub-partner' (a person with whom a partner shares his own share of profits):Which correctly distinguishes partnership from co-ownership?The name under which the business of a partnership is carried on is called the:In determining the existence of a partnership under Section 6, the sharing of profits is:Unlike a company which enjoys perpetual succession, in a partnership the death or insolvency of a partner: