Unit 4

Chapter 1 

Nature & Characteristics of Partnership

āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āĻĒ্ā§°āĻ•ৃāϤি āφ⧰ু āĻŦৈāĻļিāώ্āϟ্āϝ

Questions 

āĻĒ্ā§°āĻļ্āύāϏāĻŽূāĻš 

MULTIPLE CHOICE QUESTION

āĻāĻ•াāϧিāĻ• āĻŦিāĻ•āϞ্āĻĒāĻĒ্ā§°āĻļ্āύ

1. The Indian Partnership Act was introduced in which year?

1. āĻ•োāύ āĻŦāϛ⧰āϤ āĻ­াā§°āϤীāϝ় āĻ…ংāĻļীāĻĻাā§°ীāφāχāύ āĻĒ্ā§°ā§ąā§°্āϤāύ āϕ⧰া āĻšৈāĻ›িāϞ? (a) 1930 (b) 1931 (c) 1932 (d) 1933

(āĻ•) ā§§ā§¯ā§Šā§Ļ (āĻ–) ā§§ā§¯ā§Šā§§

(āĻ—) ā§§ā§¯ā§Šā§¨ (āϘ) ā§§ā§¯ā§Šā§Š

Ans: (c) 1932

āωāϤ্āϤ⧰: (āĻ—) ā§§ā§¯ā§Šā§¨ 


2. Which of the following is a valid partnership agreement?

2. āύিāĻŽ্āύāϞিāĻ–িāϤ āĻ•োāύāϟো āĻāϟা āĻŦৈāϧ āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦ āϚুāĻ•্āϤি?

(a) Oral Agreement (b) Written Agreement (c) Implied Agreement (d) All of the above

(āĻ•) āĻŽৌāĻ–িāĻ• āϚুāĻ•্āϤি (āĻ–) āϞিāĻ–িāϤ āϚুāĻ•্āϤি

(āĻ—) āĻ…āύ্āϤ⧰্āύিāĻšিāϤ āϚুāĻ•্āϤি (āϘ) āĻ“āĻĒā§°োāĻ•্āϤ āϏāĻ•āϞোāĻŦোā§°

Ans: (d) All of the above

āωāϤ্āϤ⧰: (āϘ) āĻ“āĻĒā§°ā§° āϏāĻ•āϞোāĻŦোā§°


3. Under Companies Act, 2013, the maximum number of partners in a partnership cannot exceed?

3. āĻ•োāĻŽ্āĻĒাāύী āφāχāύ, 2013-ā§° āĻ…āϧীāύāϤ, āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦāϤ āϏ⧰্āĻŦাāϧিāĻ• āĻ…ংāĻļীāĻĻাā§°ā§° āϏংāĻ–্āϝা āĻ…āϤিāĻ•্ā§°āĻŽ āϕ⧰িāĻŦ āύোā§ąাā§°ে?

(a) 10 (b) 50 (c) 20 (d) 25

(āĻ•) ā§§ā§Ļ (āĻ–) ā§Ģā§Ļ

(āĻ—) ⧍ā§Ļ (āϘ) ⧍ā§Ģ

Ans: (b) 50

āωāϤ্āϤ⧰: (āĻ–) ā§Ģā§Ļ


4. Which of the following cannot be a partner?

4. āύিāĻŽ্āύāϞিāĻ–িāϤ āĻ•োāύāϟো āĻ…ংāĻļীāĻĻাā§° āĻš'āĻŦ āύোā§ąাā§°ে?

(a) Money-lender sharing profits (b) Servant or agent sharing profits (c) Child of deceased partner sharing (d) Seller of goodwill sharing profits

(e) All of the above.

Ans: (e) All of the above.


(āĻ•) āϧāύ-āĻ‹āĻŖāĻĻাāϤাāχ āϞাāĻ­ āĻ­াāĻ—-āĻŦāϤ⧰া āϕ⧰া (āĻ–) āϏেā§ąāĻ• āĻŦা āĻāϜেāĻŖ্āϟে āϞাāĻ­ āĻ­াāĻ— āĻŦāϤ⧰া āϕ⧰ে

(āĻ—) āĻŽৃāϤ āϏāĻ™্āĻ—ীāĻ­াāĻ—ীā§° āϏāύ্āϤাāύ (āϘ) āϏāĻĻিāϚ্āĻ›া āĻ­াāĻ— āĻŦāϤ⧰া āϞাāĻ­ā§° āĻŦিāĻ•্ā§°েāϤা

(āĻ™) āĻ“āĻĒā§°োāĻ•্āϤ āϏāĻ•āϞোāĻŦোā§°।

Ans: (e) All of the above.

āωāϤ্āϤ⧰: (āĻ™) āĻ“āĻĒā§°োāĻ•্āϤ āϏāĻ•āϞোāĻŦোā§°।


FILL IN THE BLANKS

āĻ–াāϞী āĻ াāχāĻŦোā§° āĻĒূā§°āĻŖ āϕ⧰āĻ•

1. Existence of an agreement is _______ of relationship of partnership. [optional essential/sine qua non]

1. āĻāĻ–āύ āϚুāĻ•্āϤিā§° āĻ…āϏ্āϤিāϤ্āĻŦ āĻšৈāĻ›ে ...... āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āϏāĻŽ্āĻĒā§°্āϕ⧰। [āĻŦৈāĻ•āϞ্āĻĒিāĻ• āĻ…āϤ্āϝাā§ąāĻļ্āϝāĻ•ীāϝ়/āϚাāχāύ āĻ•োā§ąা āύāύ]

Ans: 1. Sine qua non

āωāϤ্āϤ⧰: 1. āϚাāχāύ āĻ•োā§ąা āύāύ


2. The relation of partnership arises from _______ and not from status. [contract/inheritance]

2. āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āϏāĻŽ্āĻĒā§°্āĻ• _______ āφ⧰ু āϏ্āĻĨিāϤিā§° āĻĒā§°া āύāĻšāϝ়। [āϚুāĻ•্āϤি/āωāϤ্āϤ⧰াāϧিāĻ•াā§°]

Ans: 2. Contract

āωāϤ্āϤ⧰: 2. āϚুāĻ•্āϤি


3. A written agreement of partnership is called as _______. [Partnership deed/Partnership Paper]

3. āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āĻāĻ• āϞিāĻ–িāϤ āϚুāĻ•্āϤিāĻ• __ [āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āĻ•াāĻŽ/āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦ āĻ•াāĻ•āϤ]

Ans: 3. Partnership deed

āωāϤ্āϤ⧰: 3. āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āĻ•াāĻŽ


4. A partner may contribute capital in ________. [Money/Any form]

4. āĻāϜāύ āĻ…ংāĻļীāĻĻাā§°ে _____ [āϟāĻ•া/āϝিāĻ•োāύো āĻĒ্ā§°āĻ•াā§°]

Ans: 4. Any form

āωāϤ্āϤ⧰: 4. āϝিāĻ•োāύো āĻĒ্ā§°āĻ•াā§° 


5. When duration of partnership is not fixed, it is called as ________. [Particular Partnership/Partnership at Will]

5. āϝেāϤিāϝ়া āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āĻŽ্āϝাāĻĻ āύিā§°্āϧাā§°āĻŖ āϕ⧰া āύāĻšāϝ়, āχāϝ়াāĻ• ______ [āχāϚ্āĻ›াāĻĒāϤ্ā§°āϤ āĻŦিāĻļেāώ āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ/āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ]

Ans: 5. Partnership at will.

āωāϤ্āϤ⧰: 5. āχāϚ্āĻ›াāύুāϏাā§°ে āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ।


TRUE/FALSE

āϏāϤ্āϝ/āĻŽিāĻ›া

1. A minor is competent to become a partner in a partnership firm.

1. āĻāϜāύ āύাāĻŦাāϞāĻ• āĻ…ংāĻļীāĻĻাā§°ী āĻĢাā§°্āĻŽāϤ āĻ…ংāĻļীāĻĻাā§° āĻš'āĻŦāϞৈ āϏāĻ•্āώāĻŽ।

Ans: 1, False

āωāϤ্āϤ⧰: 1, āĻŽিāĻ›া 


2. A partnership firm not being a legal person is not capable of becoming partner in other partnership firm.

2. āĻāϟা āĻ…ংāĻļীāĻĻাā§°ী āĻĒ্ā§°āϤিāώ্āĻ াāύ āφāχāύী āĻŦ্āϝāĻ•্āϤি āύোāĻšোā§ąাāϟো āφāύ āĻ…ংāĻļীāĻĻাā§°ী āĻĒ্ā§°āϤিāώ্āĻ াāύāϤ āĻ…ংāĻļীāĻĻাā§° āĻš'āĻŦāϞৈ āϏāĻ•্āώāĻŽ āύāĻšāϝ়।

Ans: 2. True

āωāϤ্āϤ⧰: 2. āϏঁāϚা


3. Partnership firm is a separate legal entity like a company.

3. āĻ…ংāĻļীāĻĻাā§°ী āĻĒ্ā§°āϤিāώ্āĻ াāύ āĻšৈāĻ›ে āĻ•োāĻŽ্āĻĒাāύীāĻāϟাā§° āĻĻā§°ে āĻāĻ• āĻĒৃāĻĨāĻ• āφāχāύী āϏāϤ্āϤা।

Ans: 3. False

āωāϤ্āϤ⧰: 3. āĻŽিāĻ›া


4. For the purpose of Income Tax, partnership is a separate legal entity.

4. āφāϝ়āϕ⧰ āωāĻĻ্āĻĻেāĻļ্āϝ⧰ āĻŦাāĻŦে, āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ āĻšৈāĻ›ে āĻāĻ• āĻĒৃāĻĨāĻ• āφāχāύী āϏāϤ্āϤা।

Ans: 4. True

āωāϤ্āϤ⧰: 4. āϏঁāϚা


SHORT QUESTIONS

āϚāĻŽু āĻĒ্ā§°āĻļ্āύ

1. Define the term partnership.

1. āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ āĻļāĻŦ্āĻĻāϟো āύিā§°্āϧাā§°āĻŖ āϕ⧰āĻ•।

Ans:

2. Explain the objects and scope of Partnership Act.

2. āĻ…ংāĻļীāĻĻাā§°ী āφāχāύ⧰ āĻ…āĻŦāϜেāĻ•্āϟ āφ⧰ু āĻĒā§°িāϏ⧰ āĻŦ্āϝাāĻ–্āϝা āϕ⧰āĻ•।

Ans:

3. Explain the kinds of partnership agreements.

3. āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦ āϚুāĻ•্āϤিā§° āĻĒ্ā§°āĻ•াā§°āĻŦোā§° āĻŦā§°্āĻŖāύা āϕ⧰āĻ•।

Ans:

4. How is an implied agreement of partnership different from an express partnership agreement?

4. āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āĻāĻ• āĻ…āύ্āϤ⧰্āύিāĻšিāϤ āϚুāĻ•্āϤি āĻ•েāύেāĻ•ৈ āĻāĻ• āϏ্āĻĒāώ্āϟ āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦ āϚুāĻ•্āϤিāϤāĻ•ৈ āĻĒৃāĻĨāĻ•?

Ans:

5. Write a short note on maximum number of partners in a partnership firm.

5. āĻ…ংāĻļীāĻĻাā§°ী āĻĢাā§°্āĻŽ āĻāϟাāϤ āϏ⧰্āĻŦাāϧিāĻ• āϏংāĻ–্āϝāĻ• āĻ…ংāĻļীāĻĻাā§°ā§° āĻ“āĻĒā§°āϤ āĻāϟা āϚāĻŽু āϟোāĻ•া āϞিāĻ–āĻ•।

Ans:

6. Which persons are incapable of becoming partners in a partnership firm?

6. āĻ•োāύāĻŦ্āϝāĻ•্āϤি āĻ…ংāĻļীāĻĻাā§°ী āĻĒ্ā§°āϤিāώ্āĻ াāύāĻāϟাāϤ āĻ…ংāĻļীāĻĻাā§° āĻš'āĻŦāϞৈ āĻ…āĻ•্āώāĻŽ? 

Ans:


7. Explain briefly the relation of mutual agency between partners of a partnership firm.

7. āĻ…ংāĻļীāĻĻাā§°ী āĻĒ্ā§°āϤিāώ্āĻ াāύ āĻāϟাā§° āĻ…ংāĻļীāĻĻাā§°āϏāĻ•āϞ⧰ āĻŽাāϜāϤ āĻĒাā§°āϏ্āĻĒā§°িāĻ• āϏংāϏ্āĻĨাā§° āϏāĻŽ্āĻĒā§°্āĻ• āϚāĻŽুāĻ•ৈ āĻŦā§°্āĻŖāύা āϕ⧰āĻ•।

Ans:

8. Differentiate between :

8. āχāϝ়াā§° āĻŽাāϜāϤ āĻĒাā§°্āĻĨāĻ•্āϝ āϕ⧰āĻ•:

(a) Partnership & Company (b) Partnership & HUF (c) Partnership & Co-ownership.

(āĻ•) āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ āφ⧰ু āĻ•োāĻŽ্āĻĒাāύী (āĻ–) āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ āφ⧰ু āĻāχāϚāχāωāĻāĻĢ (āĻ—) āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ āφ⧰ু āϏāĻš-āĻŽাāϞিāĻ•াāύা।

Ans:

LONG QUESTIONS

āĻĻীāϘāϞীāϝ়া āĻĒ্ā§°āĻļ্āύ

1. Discuss the features of the Indian Partnership Act, 1932.

1. āĻ­াā§°āϤীāϝ় āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ āφāχāύ, 1932-ā§° āĻŦিāĻļেāώāϤ্āĻŦāĻŦোā§° āφāϞোāϚāύা āϕ⧰āĻ•।

Ans:

2. Explain the meaning of partnership explaining the essential elements of partnership.

2. āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āĻĒ্ā§°āϝ়োāϜāύীāϝ় āωāĻĒাāĻĻাāύāĻŦোā§° āĻŦā§°্āĻŖāύা āϕ⧰ি āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āĻ…ā§°্āĻĨ āĻŦā§°্āĻŖāύা āϕ⧰āĻ•।

Ans:

3. "The relation of partnership arises from contract and not from status." Discuss.

3. "āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āϏāĻŽ্āĻĒā§°্āĻ• āϚুāĻ•্āϤিā§° āĻĒā§°া āωāĻĻ্āĻ­ā§ą āĻšāϝ়, āϏ্āĻĨিāϤিā§° āĻĒā§°া āύāĻšāϝ়।" āφāϞোāϚāύা āϕ⧰āĻ•। 

Ans:


4. "Sharing of profit is not the only test to determine partnership." Do you agree with the statement?

4. "āĻ…ংāĻļীāĻĻাā§°ীāϤ্āĻŦ āύিā§°্āϧাā§°āĻŖ āϕ⧰াā§° āĻŦাāĻŦে āϞাāĻ­ā§° āĻ­াāĻ—-āĻŦāϤ⧰া āϕ⧰াāϟো āĻāĻ•āĻŽাāϤ্ā§° āĻĒā§°ীāĻ•্āώা āύāĻšāϝ়।" āφāĻĒুāύি āĻŦিāĻŦৃāϤিāϟোā§° āϏৈāϤে āϏāύ্āĻŽāϤ āύেāĻ•ি?

Ans:

5. Explain in detail the nature of partnership.

5. āĻ…ংāĻļীāĻĻাā§°িāϤ্āĻŦā§° āĻĒ্ā§°āĻ•ৃāϤি āĻŦিāϤংāĻ­াā§ąে āĻŦā§°্āĻŖāύা āϕ⧰āĻ•।

Ans:



Post Id: DABP003565