Correct Answer : B
Explanation :
Explanation :
In limited partnership, the liability of at least one partner is unlimited whereas the rest may have limited liability.
Correct Answered :
Wrong Answered :
A
Partnership at will
B
Limited Partnership
C
General Partnership
D
Particular Partnership
In limited partnership, the liability of at least one partner is unlimited whereas the rest may have limited liability.
Correct Answered :
Wrong Answered :
A
2
B
5
C
15
D
20
Minimum two persons are required to start a partnership firm as partnership can only be done when two or more people are involved while in banking business, minimum 10 persons are required to join hands to establish a partnership firm.
Correct Answered :
Wrong Answered :
A
Written Agreement
B
Oral Agreement
C
Written or Oral Agreement
D
None of the above
A partnership deed is an agreement between two or more individuals who sign a contract to start a profitable business together. They agree to be the co-owners, distribute responsibilities, income or losses for running a business.
Correct Answered :
Wrong Answered :
A
Partnership Agreement
B
Contract
C
Partnership Deed
D
Partnership Act
The written agreement of partnership is called a partnership deed. It is a contract between two or more individuals who decide to manage and operate a business together for profit-making.
Correct Answered :
Wrong Answered :
A
Unequal
B
Equal
C
It will depend on the experience of a partner
D
It will depend on a partner`s capital
If there is no partnership agreement the profits will be share equally. ... The profit must be share equally in the case of a partnership firm ... Profit sharing Ratio : Profits and losses would be shared equally among partners.
Correct Answered :
Wrong Answered :
A
Ease of formation
B
Limited liability
C
Limited life
D
Mutual agency
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Correct Answered :
Wrong Answered :