Question : A minor can be admitted as a partner, only into the benefit of the partnership. Which of the following statement is correct?

Option 1: A minor cannot be admitted as a partner

Option 2: A minor can be admitted as a partner, only into the benefit of the partnership.

Option 3: A minor can be admitted as a partner but his right and liabilities are same as adult partner

Option 4: None of these

Question : Which of the following is not true with respect to Admission of a partner? 

Option 1: A new partner can be admitted if it is agreed in the partnership deed. 

Option 2: If all the partners agree, a new partner can be admitted.

Option 3: A new partner has to bring relatively higher capital as compared to the existing partners.

Option 4: A new partner gets right in the assets of the firm.

Question : In case of partnership, the act of any partner is:

Option 1: binding on all partners 

Option 2: Binding on that partner only 

Option 3: binding on all partners except that particular partner 

Option 4: none of the above 

Question : Which of the following statements is true with respect to Death of a partner? 

Option 1: Partnership comes to an end on the death of a partner but the firm may continue its business with the remaining partners

Option 2: Retirement of a partner is voluntary in nature and it can be planned, whereas death of partner cannot be planned.

Option 3: Due amount is paid to the legal heirs of the deceased partner, in case of death of a partner.

Option 4: All of the above

Question : Which of the following statements is true with respect to Death of a partner? 

Option 1: Partnership comes to an end on the death of a partner but the firm may continue its business with the remaining partners

Option 2: Retirement of a partner is voluntary in nature and it can be planned, whereas death of partner cannot be planned.

Option 3: Due amount is paid to the legal heirs of the deceased partner, in case of death of a partner.

Option 4: All of the above