company and partnership law multiple choice questions
What are the responsibilities of a partner in a partnership?
d) The partners are under a duty to account to the firm for any benefit derived from a transaction concerning the partnership, of which the other partners are unaware. e) A partner who makes a profit competing with the firm may keep that profit if he has disclosed his competing business to the other partners.
Are partners entitled to a salary or commission in a partnership firm?
Since there is no written agreement between the partners in the partnership firm therefore any of the partners are not entitled to salary or commission. 34. Partners in a firm will get Interest on Capital if provided in the partnership deed but only out of which account?
What are the different types of partnerships?
a) General partnership. b) Limited liability partnership. c) Public limited company. d) Private limited company. a) A salaried partner. b) A managing partner. c) An equity partner. d) A limited liability partner. The Partnership Act 1890 section 24 sets out rights of partners (in default of their own agreement).
What happens if a partnership agreement does not exist?
b) If a written partnership agreement does not exist, then the terms implied by the Partnership Act 1890 will form terms of the partnership agreement. c) If a written partnership agreement exists, the terms implied by the Partnership Act 1890 will still form part of the agreement, except where they are inconsistent with the agreement.
Fundamentals
Multiple Choice Questions-Business Trade & Commerce Class 11 Business Studies Chapter 1 (2023-24)
Business Communication MCQ Questions with Answers Multiple Choice Questions MCQ on Communication
|
Class - XII Multiple Choice Question Bank [MCQ ] Term – I
Reason(R): Maximum number of partners in a partnership firm is prescribed in Companies Act. 2013. a) Both (A) and (R) are true and (R) is the correct |
|
ANSWERS
For example they may not have enough money to pay their own bills. MULTIPLE-CHOICE QUESTIONS. 1C |
|
Corporate and Business Law (South Africa)
The full exam will consist of the following: Section A – 45 multiple choice questions – 25 for 2 marks (a) A partnership is not a separate legal entity with ... |
|
Chapter 1 Questions Multiple Choice
Chapter 1 Questions. Multiple Choice. 1. A business organized as a separate legal entity is a a. corporation. b. proprietor. c. government unit. d. partnership. |
|
PART I – ESSAY QUESTIONS AND SELECTED ANSWERS
Feb 2 2004 Questions on Part A are designed to test your knowledge of both general law and Florida law. ... drilling company that Senior Partner owns. He ... |
|
Exam Blueprint - REG Section Only
Jul 1 2019 • Revised Uniform Limited Partnership Act. • Revised ... Calculate separately stated items for a partnership for federal income tax purposes. |
|
Corporate and Business Law Botswana (LW BWA) December 2020
Section. A consisted of 45 multiple choice questions (MCQs) worth either 1 mark or 2 marks In the context of company law a voluntary dissolution of a company ... |
|
Examiners report
Section A consisted of multiple choice questions (MCQs). There were 45 A question on partnership law is an example of this. The question described a. |
|
CPA Exam Blueprint - Effective July 2021
Jul 1 2021 • Revised Uniform Partnership Act. • Uniform Accountancy Act ... Calculate ordinary business income (loss) and separately stated items for a ... |
|
Law and Corporate Governance
relation to contracts employment |
|
BUSINESS LAW PILOT QUESTIONS AND SOLUTIONS MULTIPLE
MULTIPLE CHOICE QUESTIONS Which of the following indicates partnership? ... Under the Companies and Allied Matters Act the tests for insolvency do. |
|
Untitled
COURSE: COMPANY AND PARTNERSHIP LAW II. CODE: SOMA 2543 INSTRUCTIONS: ANSWER FIVE QUESTIONS IN ... relevant cases to support your answers. (22 marks). |
|
500 MPRE PRACTICE QUESTIONS FOR 2019
multiple-choice format also provides a useful way to test students' knowledge of each provision or clause A certain attorney a partner at a law firm |
|
SAMPLE EXAM – DECA Inc
These test questions were developed by the MBA Research Center. the following is one way that freedom in a private enterprise system is limited by laws:. |
|
Companies Act 2019
Effect of Act on company that has lodged a registered constitution has complied with the distribution test. (2) Where a payment return or distribution ... |
|
Law of Contract July 2010
Limited Liability Partnerships (Application of Companies Act 2006) Regulations partnership exists if it satisfies the statutory test of two or more ... |
|
PRACTICE QUESTIONS FOR PROFESSIONAL RESPONSIBILITY
1 Jan 2018 format also provides a useful way to test students' knowledge of each ... Attorney a partner at a law firm |
|
PART I – ESSAY QUESTIONS AND SELECTED ANSWERS
2 Feb 2004 test your knowledge of both general law and Florida law. ... Senior partner for your firm asks you to draft a legal memorandum addressing ... |
|
Successful partnerships a guide
degree of identification with their partnership this will be a firm the working programme with new measures |
|
CPA Exam Blueprint - Effective July 2021
1 Jul 2021 Guide the development of Exam questions. ... requirements set forth by the Public Company Accounting Oversight Board. |
|
Test Yourself Answers
Answers to Test Yourself Questions BUSINESS Chapter 2: The Law of Business Organizations Generally, the Choice of Entity Problem, and the Partnership Chapter 11: The Limited Liability Company, Its Special Attributes, and Other True or False? An interest in a general partnership usually is more liquid than an |
|
COMPANY AND PARTNERSHIP LAW SUGGESTED ANSWERS
The Enterprise Act 2002 contains a series of significant reforms designed to The test to be applied by the court has become one under which the director in |
|
Corporate and Business Law (South Africa) - ACCA Global
Section A – 45 multiple choice questions – 25 for 2 marks each each multiple choice question 1 (a) Explain whether a partnership is a separate legal entity |
|
Corporate and Business Law (South Africa) - ACCA Global
8 déc 2014 · each multiple choice question 1 When does a company acquire legal personality? A Must be licensed by the Companies Commission B 23 Which of the following statements about partnership agreements is correct? A |
|
BUSINESS LAW PILOT QUESTIONS AND SOLUTIONS MULTIPLE
MULTIPLE CHOICE QUESTIONS 1 Which of the following indicates partnership? Under the Companies and Allied Matters Act, the tests for insolvency do |
|
The Indian Partnership Act-1932
Therefore, the true test of partnership is mutual agency rather Personality : A firm is not legal entity I e , it has the other partners, as well as that of the firm, but |
|
Partnership Act Multiple Choice Questions Answers - str-tnorg
When two or more people agree to build an enterprise and share its gains and losses, they are said to be in partnership The Indian Partnership Act 1932 states |
|
Group II BUSINESS Law Paper – I Fundamental Principles of Law of
Sample Multiple Choice Questions Trans-Pacific Partnership Agreement 10 Section 203 of the Companies Act 2013 deals with the appointment of a |
