Question : When is the partnership Act enforced?

Option 1: When there is no partnership deed

Option 2: When there is a partnership deed

Option 3: When capital contribution by partner varies

Option 4: None of these

Question : The relationship of partners with the firm is:

Option 1: as a manager

Option 2: as a servant

Option 3: as an agent

Option 4: as a monopolist

Question : The relation of a partner with the firm is that of:

Option 1: a principal

Option 2: an agent

Option 3: both a principal and agent

Option 4: a manager

Question : Who among the following cannot be a partners firm?

Option 1: Minor

Option 2: Person of unsound mind

Option 3: Person disqualified by law

Option 4: All of these

Question : Rent paid to a partner is debited to:

Option 1: Partner's Capital A/c

Option 2: Profit and Loss A/c

Option 3: Profit and Loss Appropriation A/c

Option 4: Partner's Current A/c