11th Principles of Commerce MCQS Chapter 4

11th Principles of Commerce MCQS
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When did the partnership business come into being
1872
1892
1880
1902

Partnership business is formed under the partnership act
1922
1910
1932
1990

The best form of a partnership deed is
Written & registered
Verbal
None of the above
Written

Partnership business as compared to sole tradership
May be in all forms
More flexible
Less flexible
Not flexible

In the absence of agreement, a partner receives on extra capital
Interest
More share in profit
No interest
Salary

Active partner in a partnership business
Invests but doesn’t take part in the business
Neither invests nor takes part in the business
Invests and takes part in the business
None of the above

At least how many partners should have a limited liability in a limited partnership
Two
Four
Three
One

The maximum number of partners in ordinary partnership
Ten
Twenty
Thirty
Forty

The liability of a partner in partnership is normally
Not at all
All the above
Unlimited
Limited

The minimum number of partners in banking business are
Ten
Fifty
Thirty
Twenty

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