Quantitative Quiz 6MarkMarch 7, 2025Quantitative Aptitude Welcome to your Quantitative Quiz 6 What is a partnership in business? A single-owner business A business owned by two or more persons A government-owned enterprise A non-profit organization None In a partnership, the profit or loss is divided among partners based on: Their investment ratio Their location Their age Their experience None A and B invest in a business in the ratio of 3:2. If the total profit is $10,000, how much does A get? $2,000 $6,000 $4,000 $3,000 None If three partners invest in a business in the ratio 5:4:3, their profit will be divided in what ratio? 4:5:3 5:4:3 3:4:5 None of these None What is the term used for a partner who invests money but does not take part in management? Sleeping Partner Working Partner Nominal Partner Active Partner None If A invests $5,000 and B invests $7,000 in a business, what is their profit-sharing ratio? 5:7 7:5 1:1 2:3 None A and B start a business with investments of $6,000 and $10,000 respectively. What percentage of the profit does B get? 40% 50% 60% 30% None If A, B, and C invest in a business in the ratio of 2:3:5, how much does C get if the total profit is $20,000? $8000 $5,000 $12,000 $10,000 None If A and B invest in a business in a 4:5 ratio and the total profit is $18,000, what is A’s share? $6,800 $9,000 $8,000 $7,200 None What happens in a partnership when a new partner joins? Profit-sharing ratio remains unchanged Old partners exit the business Existing partners get more profit Existing profit-sharing ratio is adjusted None What is the liability of a sleeping partner? Unlimited liability No liability Limited liability Full liability only in losses None A, B, and C invest in the ratio 3:2:4. If the total investment is $18,000, how much did C invest? $4,500 $6,000 $5,500 $7,000 None If a partner withdraws capital from a business, how is his profit affected? Decreases Increases Remains the same Doubles None If A and B invest in a business for different time periods, how should profit be divided? Based on their investment amounts and duration Based on their initial investments only Equally Based on their age None A working partner is responsible for: Only investing capital Only managing the business Providing loans Marketing and sales None In a partnership, if one partner provides capital and another provides expertise, how are profits shared? As per a predefined agreement Only the investor gets a share Only the expert gets a share Equally None If A and B invest in a 3:2 ratio and A gets $9,000 as profit, what is the total profit? $12,000 $15,000 $20,000 $18,000 None A partner who only allows his name to be used but does not invest capital is called a: Sleeping Partner Silent Partner Active Partner Nominal Partner None The term ‘capital account’ in partnership refers to: Bank account of the business The partner’s financial contribution The total revenue The business expenses None If a partner receives interest on capital, it is: Part of profit-sharing Separate from profit-sharing Not allowed Mandatory in all partnerships None What is the main advantage of a partnership over a sole proprietorship? More capital investment Less paperwork Lower tax rates No need for a legal agreement None If one partner invests capital and another manages operations, this is called: Cooperative Business Joint Venture Limited Partnership General Partnership None A and B enter into a partnership, but B invests half the amount of A. What is B’s share in profit? Half of A’s profit Zero Double of A’s profit Same as A’s profit None A partner who takes no active role in business decisions is called: Managing Partner Active Partner Working Partner Sleeping Partner None A partnership agreement is also known as: Business Constitution Partnership Deed Corporate Agreement Contract of Partners None What is the minimum number of partners required in a partnership? 1 2 3 4 None When a partnership firm is dissolved, how are liabilities settled? Paid by the government Paid using firm’s assets Ignored Shared equally among all partners None If a partner introduces additional capital, it is recorded as: Revenue Capital Addition Loan Expence None How is goodwill treated in a partnership? As an intangible asset As cash As an expense As a liability None A new partner can be admitted into a firm with: Approval from the bank No consent needed Consent of all partners Majority decision None 1 out of 6 Time's upTime is Up! Post Views: 98
