2. The following elements shall be listed as essential elements of a partnership, with the exception of: (CPT; June 2012) (A) At least two persons (B) There is an agreement between all partners (C) Equal share of profits and losses (D) The partnership agreement applies to certain companies. A company number contains the one with 2. What type of agreement is used to start a partnership company? Persons who have entered into a partnership between them are independently referred to as “partners” and exhaustively as “companies”. The name under which the transaction is carried out is called the “company name”. A partnership does not have an independent legal entity, apart from its partners. (a) Where a new partner is admitted (b) When an existing partner retires or dies (c) Each time the partnership establishes its conclusion (d) When the profit-sharing agreements between the existing members change.73 A and B enter ₹1,000,000 and ₹60,000 respectively into a partnership by entering into a capital to which they agree, Interest to be granted @ 8% per year Your profit or loss participation is 3:2. Profit at the end of the year was ₹2,800 before the addition of interest on capital. If there is a clear agreement that interest on the capital will be paid even in the event of a loss, S`s share: (A) profit ₹ 6,000 (B) profit ₹ 4,000 (C) loss ₹ 6,000 (D) loss ₹ 4,000 a) Goodwill is an intangible asset b) Goodwill does not bring future economic benefit c) Goodwill can only be realized if the whole company is sold as being in business d) The goodwill is a fiction of the business idea a) Goodwill is not or partially recognised in books b) Imperfect, which are not normally recorded in partnership with commercial operators c) Assets not recognised at fair value at that time d) Joint life insurance company policy when the premiums paid have been amortised 10.
What types of partnerships do not have an agreement regarding the duration of the partnership? (a) Loans from a partner (b) Capital and account costs (c) Liquidation costs (d) External claims (liabilities and provisions) Allocation of the company`s profits 8. What should be the minimum number of people to form a partnership: (A) 2 (B) 7 (C) 10 (D) 20 1. To start a partnership company, what should be the minimum number of partners? 5.b. . . .