UPHJS2018-II
Pre. Exam

93. A partnership firm is :
(a) A distinct legal entity from its partners
(b) An independent juristic person
(c) An agent of its partners
(d) none of the above

Answer and Notes Answer is D


Explanation: A partnership firm is not a legal entity. As per section 4 of Indian Partnership Act, 1932, ‘partnership" is the relation between persons who have agreed to share the profits of a business carried on by all or anyone of them acting for all.

UPHJS2018-2
Pre. Exam

18. A partnership firm is :
(A) A distinct legal entity from its partners
(B) An independent juristic person
(C) An agent of its partners
(D) none of the above

Answer and Notes Answer is D



UPHJS2012
Pre. Exam

31. Which of the following is not an essential requisite for creating a partnership as per Section 4 of the Partnership Act?
(A) An agreement to carry on a business
(B) Sharing of profits
(C) Sharing of losses
(D) Business to be carried by all or any of them acting for all.

Answer and Notes Answer is C



UPHJS2018-1
Pre. Exam

59. A partnership firm is a legal entity “like a company”. The statement is :
(a) True
(b) False
(c) Partly true
(d) None of the above

Answer and Notes Answer is B

Explanation : A partnership firm is not a legal entity. As per section 4 of Indian Partnership Act, 1932 "partnership" is the relation between persons who have agreed to share the profits of a business earned on by all or any one of them acting for

UPHJS2009
Pre. Exam

5. Which of the following is a valid partnership?
(A) partnership between two partnership firm
(B) partnership between one partnership firm and an individual
(C) partnership between individual members of one firm and the individual members of another firm
(D) neither (A) nor (B) nor (C)

Answer and Notes Answer is C