Dissolution of Partnership

1.

Multiple Select

45 sec

1 pt

Dissolution means stopping the activities of the partnership businesses.

True

False

2.

Multiple Choice

30 sec

1 pt

Realization of Assets and payment of business liabilities happens when business is?

Establishment of Business

Dissolution of Business

3.

Multiple Select

45 sec

1 pt

Dissolution is also called liquidation of the partnership firm

True

False

4.

Multiple Choice

30 sec

1 pt

According to Partnership Act 1932, a partnership may be dissolved when the partner is of one opinion to dissolve the firm, or it may be dissolved according to the contracts between the partners.

By Agreement

By Notice

By breach of Partnership Deed

Contingent Event

5.

Multiple Choice

30 sec

1 pt

If the partnership is at will the firm may be dissolved by any partner giving a 14 days’ notice in writing to all other partners.

By Agreement

By Notice

By breach of Partnership Deed

Contingent Event

6.

Multiple Choice

30 sec

1 pt

If any partner wilfully commits a breach of partnership DEED then the other partners may dissolve the partnership firm.

By Agreement

By Notice

By breach of Partnership Deed

Contingent Event

7.

Multiple Select

45 sec

1 pt

Contingent Dissolution means Liquidation of Business based on another event.

True

False

8.

Multiple Choice

30 sec

1 pt

a. In the case of business dealing with an enemy country which is not allowed by the government then the partnership will be dissolved.

By Agreement

By Notice

By breach of Partnership Deed

Contingent Event

9.

Multiple Choice

30 sec

1 pt

Select Contingent Events.

Insolvency of Partner

Death of Partner

Retirement of Partner

All the above

10.

Multiple Choice

30 sec

1 pt

Select Contingent Events.

EXPIRY OF PERIOD

COMPLETION OF WORK

UNLAWFUL BUSINESS

BUSINESS WITH ENEMY COUNTRY

ALL THE ABOVE

11.

Multiple Choice

30 sec

1 pt

If any partner brings a suit in the court (files case in the court), the court may dissolve the firm, which is called:

Dissolution with the order of the court

Dissolution without the order of Court

12.

Multiple Choice

30 sec

1 pt

BREACH OF PARTNERSHIP ACT: If the partner wilfully commits a breach of agreements in the matter of managing the affairs of the firm or his misconducts is such that it is not possible on the part of other partners to carry on the business of the firm with him.

Dissolution with the order of the court

Dissolution without the order of Court

13.

Multiple Choice

30 sec

1 pt

Following are the reasons for dissolution with the order of the Court.

The incapability of Partner or partner becomes of unsound mind

the partner becomes guilty of his misconduct in carrying on a business.

The exploitation of rights of other Partners

partner is not using his powers in a positive manner.

All the above

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