Question

State with reasons whether the following statement is true or false:
The objective of taking a joint life policy by the partnership firm is to secure the lives of the existing partners of the firm.

• A. True
• B. False

Answer 1

The correct option is B False

I don't think such policies are issued in favor of the partners jointly coz
partners are likely to be changed in due course of business & even the
constitution of the firm can be changed in Prop.or company.