Jharkhand Council of Educational Research Model Question Paper Set-03
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Questions and Answers

In which year was the Partnership Act passed?

  • 1956 AD
  • 1932 AD (correct)
  • 1952 AD
  • 1947 AD
  • Making a partnership agreement is considered to be:

  • Compulsory
  • Voluntary (correct)
  • Partly compulsory
  • All of the above
  • Which one of the following is not a feature of partnership according to the text?

  • Two or more than two persons
  • Limited liability (correct)
  • Sharing of profit
  • Agreement
  • Under the fixed capital method, where should the interest on Capital account of partners be credited?

    <p>Partner’s capital account</p> Signup and view all the answers

    When the capital is fixed, which account is opened according to the text?

    <p>Only Capital Account</p> Signup and view all the answers

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