MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Meaning of Retirement

There can not...

Question

There can not be any partnership where a business is carried on ____________.

A

with a benevolent purpose

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

where any one of the partners is entitled to total profit

No worries! We‘ve got your back. Try BYJU‘S free classes today!

C

a and b

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

D

where there is only one partner

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is D a and b
Option C is the correct answer.

Suggest Corrections

thumbs-up

0

Similar questions

Q. Choose the correct answers from the alternatives given.
Where a partner retires, and the remaining partners carry on the business with the firm's property without any final settlement of accounts, the outgoing partner is entitled to _______.

Q. A & B entered into an agreement to carry on a business of manufacturing and selling toys. Each one of them contributed Rs.35 lakhs as their capital with a condition that A & B will share the profits equally, but the loss, if any is to be borne by A alone. Referring to the provisions of the Indian Partnership Act,1932 decide whether there exists a partnership between A and B.

Q. A Hindu undivided family consisting of 11 major members and 2 minor members, carries on a family banking business.
(a) Is there anything wrong?
(b) Can such members be called partners?

Q. X, Y and Z are partners l~, .a tradea Z without the knowledge of X and Y, obtains for his wn sole,. Benefit of a lease. The house in which the partnership business is .carried on. a .X and Y entitled to participate in .the benefit of the lease?

Q. There can be a case where a bar magnet can have only one pole.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Retirement of a Partner- I

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Meaning of Retirement

Standard XII Accountancy

Join BYJU'S Learning Program

CrossIcon