Complete Online Test Preparation Portal for all Account Compliances
L PARTNERSHIP
1 / 30
Transfer of shares in Partnership firm is
2 / 30
Generally rights and obligations of the Partnership Firm are regulated in
3 / 30
In the case of partnership firm, audit is
4 / 30
Partners are ______ of the firm
5 / 30
Generally partnership firm liability is
6 / 30
Maximum number of persons in case of partnership business ______
7 / 30
Maximum no. of persons in case of partnership banking business ___________
8 / 30
9 / 30
The partnership entity may be regarded as ____________.
10 / 30
Can the partners enter into the contract with the firm?
11 / 30
12 / 30
13 / 30
A company can enter into partnership with one or more individuals or another company.
14 / 30
Generally rights and obligations of the Partnership firm are regulated by__________
15 / 30
The limit of number of members for formation of association or partnership of person’s is_________.
16 / 30
Statement 1- A basic difference between an LLP and a joint stock company lies in that the internal governance structure,
Statement 2- in case of a company is regulated by Companies Act. 2013 whereas for an LLP it would be by a contractual agreement between partners.
17 / 30
Statement 1-LLP form is a form of business model which provides flexibility without imposing detailed legal and procedural requirements. Statement 2 - Under LLP structure, liability of the partner is unlimited.
18 / 30
Statement 1-LLP shall be a body corporate and a legal entity separate from its partners.
Statement 2-it will not have perpetual succession.
19 / 30
Statement 1-LLP contains elements of both a corporate structure as well as a partnership firm structure.
Statement 2-LLP is called a hybrid between a company and partnership.
20 / 30
Mutual rights and duties of the partners within a LLP are governed by an ___________ between the partners or between the partners and the LLP as the case may be.
21 / 30
In case of an _______ no partner is liable on account of the independent or unauthorised actions of other partners, thus individual partners are shielded from joint liability created by another partner’s wrongful business decisions or misconduct.
22 / 30
LLP is a separate legal entity is liable to the full extent of its assets but liability of the partners is ________ to their agreed contribution in the LLP.
23 / 30
LLP can continue its existence irrespective of changes in partners it is capable of entering into contracts and _______ in its own name.
24 / 30
LLP is an alternative corporate business form that gives the benefits of limited liability of a __________ and the flexibility of a partnership.
25 / 30
Which one of the following is correct statement?
26 / 30
Minimum members in the case of partnership doing banking business is __________
27 / 30
Limit of number of members for formation of association or partnership of persons is fifty (50)
28 / 30
Rule-10 of Companies (Miscellaneous) Rules provides that no association or partnership can be formed with the number of members exceeding fifty (50).
29 / 30
No association or partnership can be formed with the number of members exceeding two hundred
30 / 30
A partnership may be regarded as ___________
Your score is
The average score is 32%
