Question

Persons who have entered into partnership with one another are called individually "______________" and collectively "_____________",and the name under which their business is carried on is called the "_____________".

• A. co-owner; firm name; a firm
• B. partners; firm name; a firm
• C. partners; a firm; firm name
• D. co-owner; a firm; firm name

Answer 1

The correct option is C partners; a firm; firm name

The persons who own the partnership business are individually called 'partners' who have agreed to share the profits of a business carried on by all or any of them acting for all' a partner is an agent of the firm and of the other partners given will get the share of profit, while the other will have to share the.