Question

Features of a partnership firm are _____________________.

• A. Two or more persons are carrying common business under an agreement.
• B. They are sharing profits and losses in the fixed ratio.
• C. Business is carried by all or any of them acting for all as an agent
• D. All of the above

Answer 1

The correct option is D All of the above

All these are features of partnership. To form a partnership minimum two persons are required. A single person can not form partnership. Partnership is made to share profits and losses in the ratio mentioned in partnership deed. In partnership business is carried by all or any one of them can work for all.