[CUET] Mock Test of Fundamentals of Partnership (Partnership Deed) (Part – 1) Post author:Anurag Pathak Post published:October 15, 2025 Post category:Uncategorized Post comments:0 Comments Live Mock Test of Fundamentals of Partnership (Partnership Deed) for CUET UG 0% 12345678910111213 You have 10 minutes to complete the Test. After completion, you would get your final result immediately. Your time is up. Mock Test of Fundamentals of Partnership (Partnership Deed) for CUET (Part - 1) 1 / 13 Why is it recommended to have a written partnership agreement that is signed and registered? To reduce the partners' legal obligations To eliminate the need for business documentation To resolve misunderstandings and avoid disputes in the future To increase the credibility of partners in taxation matters 2 / 13 Terms and conditions of a partnership can be in which of the following forms? Digital only Written Oral Both oral and written 3 / 13 Which of the following is considered good practice in partnership agreements? Avoiding any formal agreement Agreeing to share losses only Writing down all agreed terms and conditions Keeping all terms oral 4 / 13 Why is a written partnership agreement preferred over an oral agreement? It increases legal obligations unnecessarily It ensures clarity and avoids disputes It helps partners avoid profits It eliminates the need for negotiations 5 / 13 What is the document called that contains all agreed terms and conditions between partners? Partnership Deed Memorandum of Understanding Business Charter Partnership Agreement 6 / 13 What does the Partnership Deed primarily contain? Oral agreements between partners Agreed terms, conditions, and business information in written form Legal verdicts regarding partnership disputes Future goals and objectives of the firm 7 / 13 Why is the accounting period mentioned in the Partnership Deed usually set to end on 31st March every year? To comply with the income tax submission deadline To align with the partners' preferences To simplify annual asset valuation To avoid conflicts among partners 8 / 13 What information about partners is included in the Partnership Deed? Their bank account details Their opinions on profit-sharing ratio Their income and educational qualifications Their name, description, and address 9 / 13 Assertion (A): A written partnership agreement that is signed and registered is essential to avoid misunderstandings and disputes among partners. Reason (R): A registered partnership deed can be furnished as evidence in court in case of any dispute among the partners. Both Assertion (A) and Reason (R) are true, but Reason (R) is not the correct explanation of Assertion (A) Assertion (A) is true, but Reason (R) is false Assertion (A) is false, but Reason (R) is true (a) Both Assertion (A) and Reason (R) are true, and Reason (R) is the correct explanation of Assertion (A) 10 / 13 What is another name for a Partnership Deed? Partnership Agreement Partnership Charter Memorandum of Partnership Articles of Partnership 11 / 13 What is the legal significance of a registered partnership deed in case of a dispute? It ensures automatic dissolution of the partnership. It guarantees profits to all partners equally. It guarantees profits to all partners equally. It serves as evidence in court for resolving conflicts. 12 / 13 Assertion (A): A written partnership agreement ensures clarity in the terms and conditions agreed upon by the partners. Reason (R): A partnership deed, if not registered, cannot be used in court under any circumstances. Assertion (A) is true, but Reason (R) is false Both Assertion (A) and Reason (R) are false Both Assertion (A) and Reason (R) are true Assertion (A) is false, but Reason (R) is true 13 / 13 What is the primary purpose of forming a partnership? To share profits of a business To avoid legal documentation To eliminate business competition To share losses equally Your score isThe average score is 0% 0% Restart quiz You Might Also Like [CUET] Mock Test of Fundamentals of Partnership (Partnership Deed) (Part – 2) October 15, 2025 [CUET] Mock Test of Fundamentals of Partnership (Appropriation of Profit with Result (Free) October 27, 2025 Live MCQs of Fundamentals of Partnership (Features) with Result (Quiz – 2) September 22, 2025 Leave a Reply Cancel replyCommentEnter your name or username to comment Enter your email address to comment Enter your website URL (optional) Save my name, email, and website in this browser for the next time I comment.
[CUET] Mock Test of Fundamentals of Partnership (Appropriation of Profit with Result (Free) October 27, 2025