Question

Select the proper option from the options given below and rewrite the completed sentences.

Indian partnership Act was passed in the year ________.
(a) 1932
(b) 1923
(c) 1942

Answer 1

Correct option- a
Indian Partnership Act was passed in the year 1932.
Explanation:
Indian Partnership Act was passed in the year 1932. According to this Act, “partnership is the relation between two or more persons who have agreed to share the profits of a business carried on by all or any of them acting for all”.