Introduction to Death of Partner
Trending Questions
Q.
What is perpetual succession?
Q.
If the death of a partner occurs during the year, the representatives of the deceased partner are entitled to his/her share of profits earned till the
one of the above
end of current month
end of current year
date of death
Q.
What is partnership? What are its chief characteristics? Explain.
Q. If the death of a partner occurs during the year, the representative is entitled to his/her share of profits earned till the
- previous year
- date of death
- financial year
- end of current year
Q. State whether the following statements are true or false :
Retirement of a partner leads to dissolution of the firm unless otherwise agreed upon.
Retirement of a partner leads to dissolution of the firm unless otherwise agreed upon.
Q. Select the most appropriate alternative from those given below and rewrite the statement.
A partner below 18 years of age is called as __________________ partner.
a) active
b) sleeping
c) nominal
d) minor
A partner below 18 years of age is called as __________________ partner.
a) active
b) sleeping
c) nominal
d) minor
Q.
At the time of death, the assets and liabilities are revalued. State this true or false.
None of the above
False
- Partially True
- None of these
Q. X, Y and Z are partners and there is no provision in partnership agreement for duration of the partnership. State whether the firm is dissolved in each of the following alternative case:
Case (a) If. X gives a notice in writing to Y of his .intention to dissolve the firm on 31.03.99.
Case(b):If X gives a notice in writing to Yon 31.03.99 and to Z on 02.04.99. The notice contained X s. intention to dissolve. the firm but no. date of dissolution was mentioned in the notice.
Case (C): If in case (b), it was mentioned in the notice that the firm will be dissolved from 1st May, 1999.
Case (a) If. X gives a notice in writing to Y of his .intention to dissolve the firm on 31.03.99.
Case(b):If X gives a notice in writing to Yon 31.03.99 and to Z on 02.04.99. The notice contained X s. intention to dissolve. the firm but no. date of dissolution was mentioned in the notice.
Case (C): If in case (b), it was mentioned in the notice that the firm will be dissolved from 1st May, 1999.
Q. Give the word / term or phrase which can substitute each of the following statement.
A partner who provides only his name to the partnership firm.
A partner who provides only his name to the partnership firm.
Q. Select the most appropriate alternative from those given below and rewrite the statement.
Maximum __________________ persons are required to form a partnership having Banking business.
a) two
b) seven
c) ten
d) twenty
Maximum __________________ persons are required to form a partnership having Banking business.
a) two
b) seven
c) ten
d) twenty
Q. Objective type questions :-
Answer in one sentence only.
Who is called a nominal partner?
Answer in one sentence only.
Who is called a nominal partner?
Q. Which of the following does not have any effect on the existence of the company?
- Death of a member
- Insolvency of a member
- Insanity of a member
- All the above
Q.
On the death of a partner, the partnership firm will.................
None of the above
Both (i) and (ii)
Be reconstituted
Remain same
Q. what is the difference between partner by estoppel and partner by holding out
Q. Give a word / term / phrase which can substitute each of the following statements :
The partner who died.
The partner who died.
