Principles of Commerce ICOM Part 01 Top 500 + MCQS Download Pdf Chapter No 04

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01	Principles of Commerce ICOM Mcqs Chapter 01	02	Principles of Commerce ICOM Mcqs Chapter 02
03	Principles of Commerce ICOM Mcqs Chapter 03	04	Principles of Commerce ICOM Mcqs Chapter 04
05	Principles of Commerce ICOM Chapter 05	06	Principles of Commerce ICOM Chapter 06
07	Principles of Commerce ICOM Mcqs Chapter 07	08	Principles of Commerce ICOM Mcqs Chapter 08
09	Principles of Commerce ICOM Mcqs Chapter 09	10	Principles of Commerce ICOM Mcqs Chapter 10
11	Principles of Commerce ICOM Mcqs Chapter 11	12	Principles of Commerce ICOM Mcqs Chapter 12
13	Principles of Commerce ICOM Mcqs Chapter 13	14	Principles of Commerce ICOM Mcqs Chapter 14
15	Principles of Commerce ICOM Mcqs Chapter 15	16	Principles of Commerce ICOM Mcqs Chapter 16
17	Principles of Commerce ICOM Mcqs Chapter 17	18	Principles of Commerce ICOM Mcqs Chapter 18
19	Principles of Commerce ICOM Mcqs Chapter 19	20	Principles of Commerce ICOM Mcqs Chapter 20

Chapter # 04

Partnership

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1 Partnership business is formed under the Partnership Act:

1. 1982
2. 1932
3. 1932   
4. 1930

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2. Limited partnership is formed under Limited Partnership Ac :

1. 1897
2. 1901
3. 1907
4. 1908

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3. The minimum number of partners in a partnership are:

1. Four
2. Two
3. Six
4. Ten

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4 The maximum number of partners in banking business are:

1. Ten
2. Thirty
3. Twenty
4. Fifty

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5. The liability of a partner in partnership is normally:

1. Limited
2.  Not at all
3. Unlimited

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6. The maximum number of partners in ordinary partnership:

1. Ten     
2. Thirty
3. Twenty          
4. Forty

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7. The best form of a partnership deed is:

1. Oral    
2. Written & registered
3. Written
4. All of the above

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8. At least how many partners should have a limited liability in a limited partnership:

1. One    
2. Three  
3. Two
4. Four

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9. Partnership business as compared to sole tradership is:

1. More flexible  
2. Not flexible
3. Less flexible

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

1. 10%    
2. 12%
3. 6%
4. 7%

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11. If any partner is not in a position to compensate the business loss called

1. Retired partner           
2. Insolvent partner
3. Active partner
4. All of the above

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12. The partnership formed for any special project is called:

1. Limited partnership
2. Particular partnership
3. Partnership at will
4. None of these

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13. The first payment after dissolution of partnership is

1. Partners for their debts
2. Partners
3. External creditors
4. None of these

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