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Treating Manager as Partner

Features of a...

Question

Features of a partnership firm are _________________.

A

two or more persons carrying common business under an agreement

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B

sharing profits and losses in the fixed ratio

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C

business carried by all or any of them acting for all

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D

All of the above

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Solution

The correct option is D All of the above
Features of partnership firm are :-
1) Two or more persons carrying common business under an agreement.
2) Sharing profits and losses in the fixed ratio
3) Business carried by all or any of them acting for all.

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Similar questions

Q. Given below are two statements; one is labelled as Assertion (A), and the other is labelled as Reason (R).

Assertion (A) - Partners share profits and losses equally.

Reason (R) - Partnership is the relation between persons who have agreed to share the profit of the business carried on by all or anyone of them acting for all

[0.88 marks]

Q. The relationship between persons who have agreed to share the profit of a business carried on by all or any of them acting for all is know as.

Q. ____ is an association of 2 or more individuals but not more than 20 who agree to share the profits of a lawful business which is managed and carried on either by all or by any, or some of them acting for all.

Q. Partnership is an association of two or more individuals who agree to share the profits of a lawful business which is managed and carried on:
A. By all
B. By any of them
C. By some of them acting for all
Select the correct answer from the options given below.

Q. Partnership is defined as "the relation between persons who have agreed to share the profits of a business carried on by _________ acting for all".

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