[Solved] Property of the firm does not include:

Q.	Property of the firm does not include:
A.	Trademark owned by the firm
B.	Property acquired by or for the firm
C.	Goodwill of the business
D.	Property belonging to the partners
Answer» D. Property belonging to the partners

4.5k

Do you find this helpful?

View all MCQs in

Fundamentals of Laws and Ethics

Discussion

No comments yet

Related MCQs

Identify the incorrect statements: (1) When a firm is constituted for a fixed duration it cannot be dissolved before the expiry of that duration. (2) A partnership at will can be dissolved by the wish of even a single partner. (3) When a partner of a firm becomes lunatic, the firm dissolves automatically. (4) Even after dissolution, partners of a firm continue to be liable for acts of the firm until the affairs of the firm are finally wound up. Code:
A, B and C are partners of an unregistered firm. D owns this firm ` 1000 on a contract. The firm filed a suit against D the suit is dismissed for non-registration of the firm. The firm is registered later on. In this case which one of the following statements is MOST appropriate.
After a firm is dissolved, every partner or his representative may restrain any other partner or his representative from carrying on similar business in the firm's name or by using firm's property for own benefit, until:
A leaves a firm doing a particular business in Mumbai. He agrees with the other partners of the firm not to start a similar business as that of the firm in and around Mumbai for 3 years. This agreement is
X leaves a firm doing a particular business in Delhi. He agrees with other partners of the firm not to start a similar business as that of the firm in Delhi for 2 yea` This agreement is
As per section 38 when constitution of the firm is changed, the continuing guarantee given to the firm or to a third party in respect to the transactions of the firm:
A minor enters into agreement representing himself to be a major consider the following statement: 1. Minor commits fraud if the other party does not have personal knowledge of his age 2. Such agreement is not enforceable 3. The doctrine of estoppel does not apply in minor's case 4. Other party is entitled to get back the benefit passed to minor, if innocent about his age Which of the statements given above are correct?
X, Y and Z are partners in a firm. X, without the authority of Y and Z buys certain shares in his name out of partnership money. Will 'shares' constitute partnership property?
Where the maximum number of partners in a firm carrying on banking business exceeds ten and in any other firm exceeds twenty, then the partnership becomes a:
After the registration of a firm, if a partner retires, such a change in the constitution of the firm requires: