Question

Which of the following are the rights of a partner in a partnership firm?
X. To take art in the conduct and management of the business.
Y. To receive remuneration for active working in the firm.
Z. To receive interest on the capital invested in the firm W. To receive share in the profit.
Correct option is _______________.

• A. X and Y
• B. X and Z
• C. X and W
• D. X,Z and W

Answer 1

The correct option is D X,Z and W

In the partnership, the partners enter into a partnership deed which generally defines all the rights and responsibilities of partners. The following are the rights of a partner in a partnership firm:

1. To take part in the conduct and management of the business.

2. To receive interest on the capital invested in the firm

3. To receive a share in the profit.

4. Accessing the books of accounts

5. Indemnification rights etc

Thus the correct answer id D.