wiz-icon
MyQuestionIcon
MyQuestionIcon
1
You visited us 1 times! Enjoying our articles? Unlock Full Access!
Byju's Answer
Standard XII
Accountancy
Partner's Capital Account Adjustments(Death)
A partner can...
Question

A partner can carry on business _____ to that of the firm.

A
similar
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
not similar
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
both a and b
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
none of the above
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is C not similar
According to the provisions of the Indian Partnership Act, 1932, a partnership consists of two or more persons coming together. It also lays down some rules and regulations. A partner cannot transfer shares without the consent of the other partners. He also cannot carry on similar business to that of the firm.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Death of a Partner
ACCOUNTANCY
Watch in App
explore_more_icon
Explore more
Partner's Capital Account Adjustments(Death)
Standard XII Accountancy
Join BYJU'S Learning Program
book_image
AI Tutor
book_image
Textbooks
book_image
Question Papers
book_image
Install app
CrossIcon