CA Foundation : Relations of Partners

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Relations of Partners Quiz

1 / 15

As per section 18, a partner in a partnership firm functions :

2 / 15

If a partner commits fraud in the conduct of the business of the firm:

3 / 15

A Partner can bind a firm by his act if _________.

4 / 15

Subject to contract between the partners, a partner does not have any one of the following rights:

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The liability of a minor partner is limited to the extent of:

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Which are the matters that require unanimous consent of all the partners:

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Partners are bound to carry on the business of the firm _________.

8 / 15

Notice to a partner operates as notice to the firm.
For such purpose, notice may be given to :

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Property of the firm does not include:

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Where a partner has advanced any loan to the firm and the agreement provides for interest, but does not specify any rate, the rate shall be _________.

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For changing the nature of a business:

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For ordinary business matters the decisions in the firm are taken on the basis of :

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When a partner transfers his share, the transferee of partners share has the following rights:

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A minor may give public notice of his decision to continue or withdraw from the firm on his attaining majority within:

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When a minor on attaining the age of majority, has elected to become a partner, he becomes personally liable to third parties for all the acts of the firm from the date of his:

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Relations of Partners T/F

1 / 7

It is the duty of the partners to work full time in the business of the firm.

2 / 7

Partner has a right to receive remuneration.

3 / 7

If a partner advances money to the firm he will be entitled to interest @ 6% p.a. from the firm only in case of profits.

4 / 7

Where a partner is entitled to interest on the capital he will be paid interest only if there are profits.

5 / 7

On becoming major, the liability of a minor admitted to the benefits of partnership becomes unlimited from the fate of majority.

6 / 7

A partner is not the agent of the other partners.

7 / 7

A partner can be admitted to the partnership with the consent of majority of the partners.

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