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Partner's Capital Account Adjustments(Death)

provides for ...

Question

_______ provides for no duration or determination of partnership.

A

Partnership in undertaking

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B

General partnership

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C

Partnership at will

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D

All the above

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Solution

The correct option is C Partnership at will
When a partnership firm is formed to carry on business without specifying any period of time, it is known as partnership at will

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Q. A partnership is deemed to be a partnership at will when.

1

. No fixed period has been agreed upon for the duration of partnership.

2

. There is no provision made as to the determination of partnership in any other way.
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Partner's Capital Account Adjustments(Death)

Standard XII Accountancy

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