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MCQ Partnership Business for Competitive Exam – Quantitative Aptitude

Partnership MCQ

1. Which of the following is NOT a characteristic of a partnership firm?

Question 1 of 20

2. A and B invest Rs. 60,000 and Rs. 40,000 respectively in a partnership. If there is no agreement on profit sharing, what is the profit-sharing ratio?

Question 2 of 20

3. X, Y, and Z are partners in a business with a fixed profit-sharing ratio of 2:3:5. If the total profit is Rs. 90,000, what is Z's share?

Question 3 of 20

4. A partnership firm decides to dissolve. The total assets amount to Rs. 5,00,000 and total liabilities amount to Rs. 4,00,000. If the partners agree on a goodwill value of Rs. 1,00,000, what will be the capital amount distributed to each partner sharing profits in a 3:2 ratio?

Question 4 of 20

5. P and Q start a shop with a capital of Rs. 1,50,000 and Rs. 4,50,000, respectively. After a year, out of the profit of Rs. 2,00,000, P gets his share of profit plus some money as his salary that is not a part of the profit. It P gets a total of Rs. 90,000, what is the amount of salary (in Rs.) that he received?

Question 5 of 20

6. A, B and C together invest Rs. 53,000 in a business. A invests Rs. 5,000 more than B and B invests Rs. 6,000 more than C. Out of a total profit of Rs. 31,800, find the share of A.

Question 6 of 20

7. Three partners A , B , C start a business . B's Capital is four times C's capital and twice A's capital is equal to thrice B's capital . If the total profit is Rs 16500 at the end of a year ,Find out B's share in it.

Question 7 of 20

8. P and Q invested in a business. The profit earned was divided in the ratio 2 : 3. If P invested Rs 40000, the amount invested by Q is

Question 8 of 20

9. A, B, C rent a pasture. A puts 10 oxen for 7 months, B puts 12 oxen for 5 months and C puts 15 oxen for 3 months for grazing. If the rent of the pasture is Rs. 175, how much must C pay as his share of rent?

Question 9 of 20

10. A and B started a business in partnership investing Rs. 20,000 and Rs. 15,000 respectively. After six months, C joined them with Rs. 20,000. What will be B's share in total profit of Rs. 25,000 earned at the end of 2 years from the starting of the business?

Question 10 of 20

11. A and B invest in a business in the ratio 3 : 2. If 5% of the total profit goes to charity and A's share is Rs. 855, the total profit is:

Question 11 of 20

12. A, B, C subscribe Rs. 5,00,000 for a business. A subscribes Rs. 40,000 more than B and B Rs. 50,000 more than C. Out of a total profit of Rs. 3,50,000 A receives:

Question 12 of 20

13. What is the minimum partner requirement to start a partnership firm?

Question 13 of 20

14. What is the liability of partners in a partnership firm?

Question 14 of 20

15. Partnership Firm Agreement is known as?

Question 15 of 20

16. How will the profits be divided among partners in the absence of a partnership deed?

Question 16 of 20

17. What is a minor partner?

Question 17 of 20

18. In a partnership firm, every partner is bound to fulfil his/her ___ in the business?

Question 18 of 20

19. What is the other name for Partnership Deed?

Question 19 of 20

20. Partners in a firm will get Interest on Capital if provided in the partnership deed but only out of which account?

Question 20 of 20

Quiz

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