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Questions and Answers
In which year was the Partnership Act passed?
In which year was the Partnership Act passed?
- 1956 AD
- 1932 AD (correct)
- 1952 AD
- 1947 AD
Making a partnership agreement is considered to be:
Making a partnership agreement is considered to be:
- Compulsory
- Voluntary (correct)
- Partly compulsory
- All of the above
Which one of the following is not a feature of partnership according to the text?
Which one of the following is not a feature of partnership according to the text?
- Two or more than two persons
- Limited liability (correct)
- Sharing of profit
- Agreement
Under the fixed capital method, where should the interest on Capital account of partners be credited?
Under the fixed capital method, where should the interest on Capital account of partners be credited?
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When the capital is fixed, which account is opened according to the text?
When the capital is fixed, which account is opened according to the text?
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