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XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth share each in the profits of the firm. According to X, Y and Z activities of A are not in the interest of the partnership and thus want to expel A from the firm. Advise whether:
- a)X, Y and Z should seek retirement from the firm
- b)Yes, X, Y and Z can expel A from the firm
- c)No, X, Y and Z cannot expel A from the firm
- d)None of the above.
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth ...
Correct Answer :- B
Explanation : Yes, X, Y and Z can expel A from the firm. If A is not interested in the firm then the proprietor of the firm XYZ can expel A from the firm.
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XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth ...
Explanation:
In this scenario, X, Y, and Z want to expel partner A from the firm as they believe that A's activities are not in the interest of the partnership. Let's analyze whether X, Y, and Z have the authority to expel A from the firm.
Partnership Agreement:
- The partnership consists of 4 partners, X, Y, Z, and A.
- Each partner has a one-fourth share in the profits of the firm.
Expelling a Partner:
- Expelling a partner from a partnership usually requires the consent of all partners, unless stated otherwise in the partnership agreement.
Decision-making Authority:
- The decision to expel A from the firm would require a consensus among all partners, including A.
- If the partnership agreement allows for a majority vote, then X, Y, and Z can expel A if they all agree.
Analysis:
- The given scenario does not provide any information about the partnership agreement or the decision-making process.
- Since there is no mention of a specific provision in the partnership agreement that allows for the expulsion of a partner by a majority vote, it can be assumed that all partners have equal decision-making authority.
- In this case, X, Y, and Z alone cannot expel A from the firm without A's consent.
- Therefore, the correct answer is option 'c) No, X, Y, and Z cannot expel A from the firm'.
Conclusion:
- Based on the information provided, X, Y, and Z cannot expel A from the firm without A's consent.
- It is advisable for X, Y, and Z to discuss their concerns with A and try to find a mutually agreeable solution for the benefit of the partnership.
In this scenario, X, Y, and Z want to expel partner A from the firm as they believe that A's activities are not in the interest of the partnership. Let's analyze whether X, Y, and Z have the authority to expel A from the firm.
Partnership Agreement:
- The partnership consists of 4 partners, X, Y, Z, and A.
- Each partner has a one-fourth share in the profits of the firm.
Expelling a Partner:
- Expelling a partner from a partnership usually requires the consent of all partners, unless stated otherwise in the partnership agreement.
Decision-making Authority:
- The decision to expel A from the firm would require a consensus among all partners, including A.
- If the partnership agreement allows for a majority vote, then X, Y, and Z can expel A if they all agree.
Analysis:
- The given scenario does not provide any information about the partnership agreement or the decision-making process.
- Since there is no mention of a specific provision in the partnership agreement that allows for the expulsion of a partner by a majority vote, it can be assumed that all partners have equal decision-making authority.
- In this case, X, Y, and Z alone cannot expel A from the firm without A's consent.
- Therefore, the correct answer is option 'c) No, X, Y, and Z cannot expel A from the firm'.
Conclusion:
- Based on the information provided, X, Y, and Z cannot expel A from the firm without A's consent.
- It is advisable for X, Y, and Z to discuss their concerns with A and try to find a mutually agreeable solution for the benefit of the partnership.
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XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth share each in the profits of the firm. According to X, Y and Z activities of A are not in the interest of the partnership and thus want to expel A from the firm. Advise whether:a)X, Y and Z should seek retirement from the firmb)Yes, X, Y and Z can expel A from the firmc)No, X, Y and Z cannot expel A from the firmd)None of the above.Correct answer is option 'B'. Can you explain this answer?
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XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth share each in the profits of the firm. According to X, Y and Z activities of A are not in the interest of the partnership and thus want to expel A from the firm. Advise whether:a)X, Y and Z should seek retirement from the firmb)Yes, X, Y and Z can expel A from the firmc)No, X, Y and Z cannot expel A from the firmd)None of the above.Correct 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 XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth share each in the profits of the firm. According to X, Y and Z activities of A are not in the interest of the partnership and thus want to expel A from the firm. Advise whether:a)X, Y and Z should seek retirement from the firmb)Yes, X, Y and Z can expel A from the firmc)No, X, Y and Z cannot expel A from the firmd)None of the above.Correct 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 XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth share each in the profits of the firm. According to X, Y and Z activities of A are not in the interest of the partnership and thus want to expel A from the firm. Advise whether:a)X, Y and Z should seek retirement from the firmb)Yes, X, Y and Z can expel A from the firmc)No, X, Y and Z cannot expel A from the firmd)None of the above.Correct answer is option 'B'. Can you explain this answer?.
XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth share each in the profits of the firm. According to X, Y and Z activities of A are not in the interest of the partnership and thus want to expel A from the firm. Advise whether:a)X, Y and Z should seek retirement from the firmb)Yes, X, Y and Z can expel A from the firmc)No, X, Y and Z cannot expel A from the firmd)None of the above.Correct 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 XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth share each in the profits of the firm. According to X, Y and Z activities of A are not in the interest of the partnership and thus want to expel A from the firm. Advise whether:a)X, Y and Z should seek retirement from the firmb)Yes, X, Y and Z can expel A from the firmc)No, X, Y and Z cannot expel A from the firmd)None of the above.Correct 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 XYZ firms consists of 4 partner viz, X, Y, Z and A, having one fourth share each in the profits of the firm. According to X, Y and Z activities of A are not in the interest of the partnership and thus want to expel A from the firm. Advise whether:a)X, Y and Z should seek retirement from the firmb)Yes, X, Y and Z can expel A from the firmc)No, X, Y and Z cannot expel A from the firmd)None of the above.Correct answer is option 'B'. Can you explain this answer?.
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