11th Principles of Commerce MCQS Chapter 4

The minimum number of partnership in a partnership are

Four

Ten

Six

Two

In the absence of agreement, what will be the interest rate on extra capital of a partner

12%

10%

6%

4%

Limited partnership is formed under limited partnership act

1897

1927

1907

1917

A non-active partner in a partnership

Doesn’t invest but takes part in the business

None of the above

Neither invests nor takes part in the business

Invests but doesn’t take part in the business

If the court declares the bankruptcy of any partner in partnership firm

A new partner is admitted

The partnership becomes cancels

The partnership becomes weak

The partnership continues