Indian Partnership Questions – CAIIB Exam is scheduled on June and December. IIBF Conducts its flagship exams JAIIB & CAIIB twice every year. To qualify exams like JAIIB-CAIIB one must solve as many questions as possible. So to help you qualify this exam, we are providing you with the top 50 CAIIB Indian Partnership Questions For CAIIB. Know how to download the ebook here and have a sneak peek at the ebook below.
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What’s there in the Top 50 Indian Partnership Questions for CAIIB E-Book?
1. Under Section 2B. Of the Indian Partnership Act, ‘business’ Includes
A. every trade and occupation
B. every occupation and profession
C. every trade, occupation and profession
D. every trade and profession
Answer: C
2. State which of the statements is true?
A. Partner is an agent of the firm
B. Partner is owner of the firm
C. Partner is director of the firm
D. None of the above
Answer: A
3. What is a partnership at will?
A. Created under a will by testator
B. Created by consent of all partners
C. Partnership without provision for duration
D. None of the above
Answer: C
4. A partnership which is not for any fixed duration is
A. partnership at will
B. indissoluble partnership
C. either A. or B.
D. none of the above
Answer: A
5. Which of the following is a strong but not sufficient test of partnership?
A. sharing of profits
B. sharing of losses
C. either of the two
D. none of the above
Answer: A
6. In which of the following cases, a partnership exist:
A. Several persons jointly purchase goods for resale with a view to divide the profits arising from the transaction.
B. Persons (co-owners) who join in the purchase of goods for the purpose of dividing the goods themselves.
C. A. B and C agreed that each should furnish Rs. 3000 worth of goods to be shipped on a joint venture, the profits is to be divided between them according to the amount of their several shipments
D. Two tenants in common of a house and divide the rent equally
Answer: A
7. In which of the following cases a partnership does not exist?
I. Lender of money receiving profit
II. Servants or agents receiving profit
III. Widow or child of a deceased receiving profits.
IV. Seller of goodwill receiving profits
A. I, II and III
B. I, II and IV
C. II, III and IV
D. All of the above
Answer: D
8. A partnership firm is
A. a distinct legal entity from its partner
B. not a distinct legal entity from its partner
C. a juristic person
D. None of the above
Answer: B
9. A partner can retire by notice of intention to retire, where
A. the partnership is at will
B. the partnership is for a specified period
C. where a contract has been made between the partners for its determination
D. none of the above
Answer: A
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