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The relationship between persons who have agreed to share the profit of a business carried on by all or any of them acting for all is known as________.
  • a)
    Partnership
  • b)
    Joint Venture
  • c)
    Association of Persons
  • d)
    Body of Individuals
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
The relationship between persons who have agreed to share the profit o...
It is a definition given by Partnership act 1932 in sec 4
It contains 3 three parameters
1) Agreement
2) sharing of profit and losses
3) carried on by all any of them acting for all means mutual agency
above three things required to form a partnership.
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The relationship between persons who have agreed to share the profit of a business carried on by all or any of them acting for all is known as________.a)Partnershipb)Joint Venturec)Association of Personsd)Body of IndividualsCorrect answer is option 'A'. Can you explain this answer?
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