A. The partners are not liable for the liabilities of the partnership
B. The partnership assets (excluding the partners personal assets) only will be used to pay the liabilities
C. The partners personal assets are attached to the debt of the partnership
D. The partners nay sell stock to generate additional capital
Related Mcqs:
- In case of sewer lines_________________?
A. Water test is carried out to check water tightness of the joints
B. Test for straightness is carried out with the help of a lamp and mirror
C. Obstruction test is carried out with the help of smooth ball of diameter 13 mm
D. All the above - In case of Imhoff tanks_____________________?
A. The shape is rectangular
B. Detention period is 2 hours
C. The velocity of flow is restricted to 0.30 m/minute
D. All the above - The angle of contact in case of a liquid depends upon____________________?
A. the nature of the liquid and the solid
B. the material which exists above the free surface of the liquid
C. both of die above
D. any one of the above
E. none of die above - Resultant pressure of the liquid in the case of an immersed body acts through _________________?
A. center of gravity
B. center of pressure
C. metacentre
D. center of buoyancy
E. in between e.g. and center of pressure - In the case of steady flow of a fluid, the acceleration of any fluid particle is__________________?
A. constant
B. variable
C. zero
D. zero under limiting conditions
E. never zero - The total energy of each particle at various places in the case of perfect incompres sible fluid flowing in continuous sream________________?
D. keeps on increasing
B. keeps on decreasing
C. remains constant
D. may increase/decrease
E. unpredictable - Which is true about partnership ?
A. It has a perpetual life
B. It will be dissolved if one of the partners ceases to be connected with the partnership
C. It can be handed down from one generation of partners to another
D. Its capitalization must be equal for each partner - The original record of a business transaction is recorded in this book_____________?
A. Work book
B. Journal
C. Ledger
D. Account book - Lands, buildings, plants and machineries are example of what type of asset ?
A. Current asset
B. Trade investment asset
C. Fixed asset
D. Intangible asset - The true value of interest rate computed by equations for compound interest for a 1 year period is known as __________________?
A. Expected return
B. Nominal interest
C. Effective interest
D. Economic return
