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This a MCQ (Multiple Choice Question) based practice test of Chapter 1 - Fundamentals of partnership and Goodwill of Accountancy of Class XII (12) for the quick revision/preparation of School Board examinations
Q  Which Section of the Partnership Act defines partnership as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all?
  • a)
    Section 61
  • b)
    Section 13
  • c)
    Section 48
  • d)
    Section 4
Correct answer is 'D'. Can you explain this answer?
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This a MCQ (Multiple Choice Question) based practice test of Chapter 1...
Section 4 in The Indian Partnership Act, 1932
Definition of “partnership”, “partner”, “firm” and “firm name”.—’’Partnership” is the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. Persons who have entered into partnership with one another are called individually “partners” and collectively a “firm”, and the name under which their business is carried on is called the “firm name”.
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This a MCQ (Multiple Choice Question) based practice test of Chapter 1...
Partnership is defined by Indian Partnership Act, 1932, Section 4, Definition of partnership - "Partnership is the relationship between two persons who have agreed to share the profit of business carried on by all or any of them acting for all."
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This a MCQ (Multiple Choice Question) based practice test of Chapter 1- Fundamentals of partnership and Goodwill of Accountancy of Class XII (12) for the quick revision/preparation of School Board examinationsQ Which Section of the Partnership Act defines partnership as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all?a)Section 61b)Section 13c)Section 48d)Section 4Correct answer is 'D'. Can you explain this answer?
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This a MCQ (Multiple Choice Question) based practice test of Chapter 1- Fundamentals of partnership and Goodwill of Accountancy of Class XII (12) for the quick revision/preparation of School Board examinationsQ Which Section of the Partnership Act defines partnership as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all?a)Section 61b)Section 13c)Section 48d)Section 4Correct answer is 'D'. Can you explain this answer? for Commerce 2025 is part of Commerce preparation. The Question and answers have been prepared according to the Commerce exam syllabus. Information about This a MCQ (Multiple Choice Question) based practice test of Chapter 1- Fundamentals of partnership and Goodwill of Accountancy of Class XII (12) for the quick revision/preparation of School Board examinationsQ Which Section of the Partnership Act defines partnership as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all?a)Section 61b)Section 13c)Section 48d)Section 4Correct answer is 'D'. Can you explain this answer? covers all topics & solutions for Commerce 2025 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for This a MCQ (Multiple Choice Question) based practice test of Chapter 1- Fundamentals of partnership and Goodwill of Accountancy of Class XII (12) for the quick revision/preparation of School Board examinationsQ Which Section of the Partnership Act defines partnership as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all?a)Section 61b)Section 13c)Section 48d)Section 4Correct answer is 'D'. Can you explain this answer?.
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