Partnership

Q.

All the partners are equally ___________ for the repayment of all the debts

1. Jointly Liable

2. Both A & C

3. Not liable

4. Liable

Q.

State True or False.

A particular partnership does not dissolve automatically when the purpose is fulfilled.

1. True

2. False

Q.

A partnership is the best option to overcome various limitations of sole proprietorship in terms of capital employed, managerial skills etc.

1. False

2. True

Q.

State True or False. In a partnership organisation, the capital is contributed by a number of partners.

1. False

2. True

Q.

State True or False. In a partnership organisation, the decisions are not taken by mutual consent of the partners.

1. True

2. False

Q.

The government gives money to a company to build the roads for efficient and smooth transport. What kind of partnership is it?

1. Private Public Partnership

2. Public Private Partnership

3. Particular Private Partnership

4. None of the above

Q.

Two partners want to start a new firm so they issue a prospectus. Are they on the right track?

1. Yes, cause the partners need to form a prospectus.

2. Partners do require a prospectus to go ahead with the business.

3. No, cause partners do not need to form a prospectus.

4. None of the above

Q.

A partnership that is formed to create a certain objective or goal.

1. Particular Partnership

2. Limited Partnership

3. General Partnership

4. Partnership at Will

Q. A partnership is an option to overcome various limitations in terms of capital, managerial skills.

1. False
2. True

Q. In a partnership organisation, the decisions are not taken by mutual consent of the partners.

1. True
2. False