
class 12 partnership
Authored by Hament Kharbanda
Other
12th Grade
Used 229+ times

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20 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Number of partners in a partnership firm may be :
Maximum Two
Maximum Ten
Maximum One Hundred
Maximum Fifty
2.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
In the absence of Partnership Deed, the interest is allowed on partner’s capital:
@ 5% p.a.
@ 6% p.a.
@ 12% p.a.
No interest is allowed
3.
MULTIPLE SELECT QUESTION
30 sec • 1 pt
In the absence of agreement, partners are not entitled to :
Salary
Commission
Equal share in profit
Both (a) and (b)
4.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following items cannot be recorded in the profit and loss appropriation account?
Interest on capital
Interest on drawings
Rent paid to partners
Partner’s salary
5.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Which one of the following items cannot be recorded in the profit and loss appropriation account?
Interest on capital
Interest on drawings
Rent paid to partners
Partner’s salary
6.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
Partnership is the relation which subsists between persons who have agreed to combine their property,
labour or skill in some business and to share the profits there from between them.
True
False
Partly true
None of the above
7.
MULTIPLE CHOICE QUESTION
30 sec • 1 pt
A ...........partner is one whose association with the firm is unknown to the general public.
Active
Sleeping
Secret
Nominal
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