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Mark incorrect: Partnership implies
  • a)
    Contractual ownership of business
  • b)
    Liability of partner is limited to the extent of one’s share capital
  • c)
    The contract is an agreement enforceable at law is called deed
  • d)
    Deed may be registered in India under the Partnership Act, 1932
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
Mark incorrect: Partnership impliesa)Contractual ownership of business...
B) Liability of partner is limited to the extent of one's investment in the business.

This is incorrect. Partnership does not offer limited liability to partners. Partners are personally liable for the debts and obligations of the partnership.
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Mark incorrect: Partnership impliesa)Contractual ownership of business...
In case of partnership, partners have unlimited liability regardless of their capital's share
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Mark incorrect: Partnership impliesa)Contractual ownership of businessb)Liability of partner is limited to the extent of one’s share capitalc)The contract is an agreement enforceable at law is called deedd)Deed may be registered in India under the Partnership Act, 1932Correct answer is option 'B'. Can you explain this answer?
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Mark incorrect: Partnership impliesa)Contractual ownership of businessb)Liability of partner is limited to the extent of one’s share capitalc)The contract is an agreement enforceable at law is called deedd)Deed may be registered in India under the Partnership Act, 1932Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Mark incorrect: Partnership impliesa)Contractual ownership of businessb)Liability of partner is limited to the extent of one’s share capitalc)The contract is an agreement enforceable at law is called deedd)Deed may be registered in India under the Partnership Act, 1932Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Mark incorrect: Partnership impliesa)Contractual ownership of businessb)Liability of partner is limited to the extent of one’s share capitalc)The contract is an agreement enforceable at law is called deedd)Deed may be registered in India under the Partnership Act, 1932Correct answer is option 'B'. Can you explain this answer?.
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