CA Foundation Partnership — Relations of Partners — practice questions
26 free MCQs with worked solutions. Tap any question for the answer + explanation, or practice them all in the app.
Practice CA Foundation Partnership — Relations of Partners in the app →Under Section 9, the general duties of partners require them to:Under Section 10, a partner who commits fraud in the conduct of the firm's business must:Under Section 11(2), a partnership contract may validly provide that a partner shall not carry on any businessUnder Section 12(c), a change in the NATURE of the firm's business requires:Under Section 12(d), every partner (whether active or sleeping) has the right to:Under Section 13(a), in the absence of a contrary agreement or usage, a partner is:Under Section 13(b), in the absence of agreement, partners share profits and losses:Under Section 13(c), where a partner is entitled to interest on the capital he subscribed, such interest is paUnder Section 13(d), a partner who makes a payment or advance beyond his agreed capital is entitled to interesUnder Section 13(e), the firm must indemnify a partner for payments and liabilities incurred:Under Section 13(f), a partner must indemnify the firm for loss caused by his:Under Section 14, which of the following is regarded as property of the firm?Property belonging exclusively to a partner but used for the firm's business:Under Section 16(a), where a partner derives a secret profit from a transaction of the firm or from use of theUnder Section 16(b), if a partner carries on a business of the same nature as and competing with the firm, he Under Section 18, with respect to the business of the firm, a partner is:Under Section 19, the 'implied authority' of a partner is the authority to do acts that:In the absence of a contrary usage, the implied authority of a partner does NOT empower him to:Under Section 20, a restriction on a partner's implied authority binds a third party only if:Under Section 21, in an emergency a partner has authority to:Under Section 22, to bind the firm, an act or instrument by a partner must be done or executed:Under Section 23, an admission or representation made by a partner binds the firm if it is:Under Section 24, notice to a partner who habitually acts in the firm's business operates as notice to the firUnder Section 17, after a change in the constitution of the firm, the mutual rights and duties of the partnersThe proportion in which partners share profits, in the absence of agreement, bears what relation to their capiWhere one partner is better acquainted with the firm's accounts in a transaction with another partner for sale