CUET Mock Test of Fundamentals of Partnership (Rules in the Absence of Partnership Deed) - 1

CUET Mock Test of Fundamentals of Partnership (Rules in the Absence of Partnership Deed) – 1

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Post published:October 16, 2025
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Mock Test of Fundamentals of Partnership (Rules in the Absence of Partnership Deed) – 1 for Class 12 CBSE, ISC and CUET UG

You have 10 minutes to complete the Test. After completion, you would get your final result immediately.

Your time is up.

Mock Test Fundamentals of Partnership (Rules in the Absense of Partnership) (Part - 2)

1 / 10

Assertion (A): Interest @6% per annum is allowed on loans given by partners to the firm, even during losses.

Reason (R): The Indian Partnership Act, 1932 treats loans from partners differently from capital contributions.

Both A and R are true, and R is the correct explanation of A

A is true, but R is false

Both A and R are true, but R is not the correct explanation of A

A is false, but R is true

2 / 10

Assertion (A): Profit-sharing depends on capital contribution if there is no partnership deed.

Reason (R): The Indian Partnership Act, 1932 specifies equal profit-sharing in the absence of a deed.

A is true, but R is false

A is false, but R is true

Both A and R are true, but R is not the correct explanation of A

Both A and R are true, and R is the correct explanation of A

3 / 10

Assertion (A): Partners can claim interest on capital even if the partnership deed is silent.

Reason (R): Interest on capital is not allowed in the absence of specific provisions in the partnership deed.

Both A and R are true, but R is not the correct explanation of A

A is true, but R is false

A is false, but R is true

Both A and R are true, and R is the correct explanation of A

4 / 10

Assertion (A): Profits and losses are shared equally among partners in the absence of a partnership deed.

Reason (R): The Indian Partnership Act, 1932 mandates equal profit sharing irrespective of capital contribution.

A is false, but R is true

Both A and R are true, and R is the correct explanation of A

Both A and R are true, but R is not the correct explanation of A

A is true, but R is false

5 / 10

Assertion (A): Interest is charged @6% per annum on loans given by the firm to partners.

Reason (R): The Indian Partnership Act, 1932 prohibits charging interest on loans provided by the firm to partners unless agreed.

A is false, but R is true

A is true, but R is false

Both A and R are true, and R is the correct explanation of A

Both A and R are true, but R is not the correct explanation of A

6 / 10

Assertion (A): Partners are entitled to a salary for managing the business in the absence of a partnership deed.

Reason (R): No remuneration is allowed to partners unless specified in the partnership deed.

Both A and R are true, and R is the correct explanation of A

Both A and R are true, but R is not the correct explanation of A

A is false, but R is true

7 / 10

Assertion (A): Consent of all existing partners is mandatory for admitting a new partner.

Reason (R): Unanimous consent ensures the protection of existing partners’ rights and obligations.

Both A and R are true, and R is the correct explanation of A

A is false, but R is true

Both A and R are true, but R is not the correct explanation of A

A is true, but R is false

8 / 10

Assertion (A): Interest on drawings must be charged in the absence of a partnership deed.

Reason (R): The Indian Partnership Act, 1932 does not require charging interest on drawings unless explicitly agreed.

A is true, but R is false.

A is false, but R is true.

Both A and R are true, but R is not the correct explanation of A.

Both A and R are true, and R is the correct explanation of A.

9 / 10

Assertion (A): The Indian Partnership Act, 1932 provides default provisions for partnerships in the absence of a partnership deed.

Reason (R): The Act ensures clarity and fairness in situations where the partnership deed is silent.

Both A and R are true, but R is not the correct explanation of A.

A is false, but R is true.

Both A and R are true, and R is the correct explanation of A.

A is true, but R is false.

10 / 10

Assertion (A): Interest on capital is always allowed in a partnership.

Reason (R): Interest on capital depends on the agreement among partners or the partnership deed.

Both A and R are true, but R is not the correct explanation of A

A is true, but R is false

A is false, but R is true

Both A and R are true, and R is the correct explanation of A

Your score is

The average score is 0%

You have 10 minutes to complete the Test. After completion, you would get your final result immediately.

Your time is up.

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