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Direction: Read the following text and answer the questions on the basis of the same:
Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.
Q. Specify the kind of partnership mentioned in the above case.
- a)Limited partnership
- b)Particular partnership
- c)Partnership at will
- d)General partnership
Correct answer is option 'B'. Can you explain this answer?
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Direction: Read the following text and answer the questions on the ba...
It is a particular partnership. A partnership formed for a single transaction or enterprise as distinguished from one organized for carrying on a general business.
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Direction: Read the following text and answer the questions on the ba...
Kind of Partnership:
The kind of partnership mentioned in the above case is Particular partnership.
Explanation:
A particular partnership is a type of partnership where certain partners contribute capital and actively participate in the management of the business, while other partners only contribute capital and do not participate in the management. In this case, Madhu, Himanshu, and Mayank have jointly taken a project to construct three government school buildings in a village near Agra.
Contributions:
According to the written agreement, Madhu and Mayank are the partners who will contribute the capital and also take all managerial decisions. On the other hand, Himanshu will only contribute capital but will not be actively involved in the management of the project. This clearly indicates that Madhu and Mayank are the active partners who will contribute capital and actively participate in the management of the project, while Himanshu is a silent partner who will only contribute capital.
Characteristics of Particular Partnership:
- In a particular partnership, there are two types of partners: active partners and silent partners.
- Active partners contribute capital and actively participate in the management of the business.
- Silent partners contribute capital only and do not participate in the management.
- The rights and duties of active and silent partners are determined by the partnership agreement.
Conclusion:
Based on the given information, it can be concluded that the type of partnership mentioned in the above case is a particular partnership. This is because Madhu and Mayank contribute capital and actively participate in the management, while Himanshu only contributes capital and does not participate in the management.
The kind of partnership mentioned in the above case is Particular partnership.
Explanation:
A particular partnership is a type of partnership where certain partners contribute capital and actively participate in the management of the business, while other partners only contribute capital and do not participate in the management. In this case, Madhu, Himanshu, and Mayank have jointly taken a project to construct three government school buildings in a village near Agra.
Contributions:
According to the written agreement, Madhu and Mayank are the partners who will contribute the capital and also take all managerial decisions. On the other hand, Himanshu will only contribute capital but will not be actively involved in the management of the project. This clearly indicates that Madhu and Mayank are the active partners who will contribute capital and actively participate in the management of the project, while Himanshu is a silent partner who will only contribute capital.
Characteristics of Particular Partnership:
- In a particular partnership, there are two types of partners: active partners and silent partners.
- Active partners contribute capital and actively participate in the management of the business.
- Silent partners contribute capital only and do not participate in the management.
- The rights and duties of active and silent partners are determined by the partnership agreement.
Conclusion:
Based on the given information, it can be concluded that the type of partnership mentioned in the above case is a particular partnership. This is because Madhu and Mayank contribute capital and actively participate in the management, while Himanshu only contributes capital and does not participate in the management.
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Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. Specify the kind of partnership mentioned in the above case.a)Limited partnershipb)Particular partnershipc)Partnership at willd)General partnershipCorrect answer is option 'B'. Can you explain this answer?
Question Description
Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. Specify the kind of partnership mentioned in the above case.a)Limited partnershipb)Particular partnershipc)Partnership at willd)General partnershipCorrect answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. Specify the kind of partnership mentioned in the above case.a)Limited partnershipb)Particular partnershipc)Partnership at willd)General partnershipCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. Specify the kind of partnership mentioned in the above case.a)Limited partnershipb)Particular partnershipc)Partnership at willd)General partnershipCorrect answer is option 'B'. Can you explain this answer?.
Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. Specify the kind of partnership mentioned in the above case.a)Limited partnershipb)Particular partnershipc)Partnership at willd)General partnershipCorrect answer is option 'B'. Can you explain this answer? for Commerce 2024 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. Specify the kind of partnership mentioned in the above case.a)Limited partnershipb)Particular partnershipc)Partnership at willd)General partnershipCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for Commerce 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. Specify the kind of partnership mentioned in the above case.a)Limited partnershipb)Particular partnershipc)Partnership at willd)General partnershipCorrect answer is option 'B'. Can you explain this answer?.
Solutions for Direction: Read the following text and answer the questions on the basis of the same:Madhu, Himanshu and Mayank, after completing B.E. in civil engineering, have jointly taken a project of constructing three government school buildings in a village near Agra within the time period of 6 months. As per the written agreement between them, only Madhu and Mayank will contribute the capital, and take all managerial decisions, whereas Himanshu will contribute capital only but will not be actively involved in management.Q. Specify the kind of partnership mentioned in the above case.a)Limited partnershipb)Particular partnershipc)Partnership at willd)General partnershipCorrect answer is option 'B'. Can you explain this answer? in English & in Hindi are available as part of our courses for Commerce.
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