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Which of the following statement is not true about minor’s position as a partner
1 . He cannot become a full fledged partner in a new firm
2 . He can become a full fledged partner in an existing firm
3 . He has to bear all liabilities like other partners
4 . He can become a partner on becoming a major
  • a)
    1 & 2
  • b)
    2 & 3
  • c)
    3 & 4
  • d)
    1 & 4
Correct answer is option 'B'. Can you explain this answer?
Verified Answer
Which of the following statement is not true about minors position as ...
Explanation:
The correct answer is option B: 2 & 3. Here's a detailed explanation:
1. He cannot become a full-fledged partner in a new firm: This statement is true. A minor, who is someone below the age of majority, cannot enter into a partnership agreement and therefore cannot become a full-fledged partner in a new firm.
2. He can become a full-fledged partner in an existing firm: This statement is true. Although a minor cannot initially become a partner, they can be admitted as a partner in an existing firm with the consent of all the existing partners.
3. He has to bear all liabilities like other partners: This statement is true. If a minor is admitted as a partner in an existing firm, they are liable for all the debts and obligations of the partnership, just like any other partner.
4. He can become a partner on becoming a major: This statement is not true. A minor does not automatically become a partner on reaching the age of majority. They would need to fulfill additional requirements and agreements to become a partner.
In conclusion, the statement that is not true about a minor's position as a partner is option B: 2 & 3.
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Which of the following statement is not true about minors position as a partner1 . He cannot become a full fledged partner in a new firm2 . He can become a full fledged partner in an existing firm3 . He has to bear all liabilities like other partners4 . He can become a partner on becoming a majora)1 2b)2 3c)3 4d)1 4Correct answer is option 'B'. Can you explain this answer?
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Which of the following statement is not true about minors position as a partner1 . He cannot become a full fledged partner in a new firm2 . He can become a full fledged partner in an existing firm3 . He has to bear all liabilities like other partners4 . He can become a partner on becoming a majora)1 2b)2 3c)3 4d)1 4Correct answer is option 'B'. Can you explain this answer? for CA Foundation 2025 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following statement is not true about minors position as a partner1 . He cannot become a full fledged partner in a new firm2 . He can become a full fledged partner in an existing firm3 . He has to bear all liabilities like other partners4 . He can become a partner on becoming a majora)1 2b)2 3c)3 4d)1 4Correct answer is option 'B'. Can you explain this answer? covers all topics & solutions for CA Foundation 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following statement is not true about minors position as a partner1 . He cannot become a full fledged partner in a new firm2 . He can become a full fledged partner in an existing firm3 . He has to bear all liabilities like other partners4 . He can become a partner on becoming a majora)1 2b)2 3c)3 4d)1 4Correct answer is option 'B'. Can you explain this answer?.
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