class 12 partnership

class 12 partnership

12th Grade

20 Qs

quiz-placeholder

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class 12 partnership

class 12 partnership

Assessment

Quiz

Other

12th Grade

Medium

Created by

Hament Kharbanda

Used 226+ times

FREE Resource

20 questions

Show all answers

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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