Students should practice Registration of a Firm – CA Foundation Business Law MCQ Questions with Answers based on the latest syllabus.
Registration of a Firm – Business Law MCQ Questions with Answers
1. Registration of the firm under the Partnership Act is:
(a) Optional
(b) Obligatory
(c) Compulsory
(d) Necessary
Answer:
(a) Optional
2. The Partnership Act by section 69 indirectly renders the registration firm compulsory by providing:
(a) Certain disabilities.
(b) Penalties on partners of unregistered firms.
(c) Penalties on unregistered firms.
(d) Monetary fine on partners.
Answer:
(a) Certain disabilities.
3. A firm name shall not contain any of the following words :
(a) Crown, Imperial
(b) Emperor,Empress
(c) King, Queen
(d) All the above
Answer:
(d) All the above
4. Registration of firm is effective from ________.
(a) The date when the Registrar files the statement and makes entries in the Register of firms
(b) The date of presentation of the statement to the Registrar of firms
(c) The date published in the Official Gazette
(d) The date intimated to the partners.
Answer:
(a) The date when the Registrar files the statement and makes entries in the Register of firms
5. Non-registration of the firm does not affect the right of the firm to institute a suit or claim of set-off not exceeding ________.
(a) ₹ 100
(b) ₹ 1,000
(c) ₹ 10,000
(d) ₹ 50,000
Answer:
(a) ₹ 100
6. After the registration of a firm, if a partner retires, such a change in the constitution of the firm requires :
(a) A notice to be sent to the Registrar.
(b) New registration.
(c) An affidavit of a managing partner about the change.
(d) No intimation.
Answer:
(a) A notice to be sent to the Registrar.
7. If an unregistered firm intends to file a suit against a third party, it should get itself registered before filing the suit.
(a) False, as such disability can never be removed.
(b) True, as after registration firm’s disability to file such suit is removed.
(c) It should take permission of the court before filing the suit.
(d) Either (b) or (c)
Answer:
(b) True, as after registration firm’s disability to file such suit is removed.
8. In case of an unregistered firm the partners can file a suit for the :
(a) Dissolution of the firm
(b) Accounts of dissolved firm
(c) Realization of property of dissolved firm
(d) All the above
Answer:
(d) All the above
9. Any person who supplies false information to the Registrar of firms, shall be liable to punishment with imprisonment upto ________.
(a) Three months
(b) Six months
(c) Nine months
(d) Twelve months
Answer:
(a) Three months
State Whether The Following are True or False:
- The registration of a firm is a condition precedent to the right to institute a suit.
- If a partner refuses to sign the application for registration, then registration can be done only by dropping the name of such a partner from the firm.
- Application for registration of the firm must be signed by all the partners.
- A third party cannot file a suit against an unregistered firm.
- A partner of an unregistered firm cannot sue for the dissolution of the firm.
- Registration of the firm may be done before filing a suit against the third party.
- Registration of the firm must be done at the time of formation of the firm.
Answer:
- True
- True
- True
- False
- False
- True
- False