1. A partner may retire
a) With the consent of all the other partners
b) In accordance with an express agreement by the partners
c) Where the partnership is at will, by giving notice in writing to all the other partners of his intention to retire
d) All of the above
2.Which of the following is a ground for dissolution u/s 44 of the Indian Partnership Act, 1932?
a) Misconduct
b)Permanent incapacity
c) Unsoundness of mind
d) all the above
3. The Negotiable Instruments Act came into force on –
a) 9th Dec 1881
b) 1st March 1882
c) 9th Dec 1882
d) 1st April 1881
4. Promissory note is defined u/s -------- of the Negotiable Instruments Act, 1881
a) 4
b) 5
c) 7
d) 8
5. The maker of a bill of exchange or cheque is called --------
a) Holder
b) Drawer
c) Drawee
d) payee
6. The person who is directed to pay a bill of exchange is called --
a) Holder
b) drawer
c) Drawee
d) payee
7. When does the offence u/s 138 of the Negotiable Instruments Act, complete?
a) When the drawer fails to pay the cheque amount within 15 days of the notice by the holder
b) When information regarding dishonor is received by the holder from the bank
c) When notice of dishonour is received by the drawer
d) When the cheque is dishonoured
8. A person committing an offence u/s 138 shall be punished with for a term of imprisonment which may extend to
a) 6 months
b) 1 year
c) 2 years
d) 3 years
9. The drawee of a cheque is always a
a) Company
b) Payee
c) Debtor
d) Banker
10. ---------- cheque cannot be paid across the counter
a) Stale
b) Mutilated
c) Crossed
d) Bearer