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 A partnership firm cannot exceed the maximum number on other than banking business:
  • a)
    10 members
  • b)
    20 members
  • c)
    15 members
  • d)
    25 members
Correct answer is option 'B'. Can you explain this answer?
Most Upvoted Answer
A partnership firm cannot exceed the maximum number on other than bank...
The definition of the term company is given under Section 3 (1) of the Companies Act, 2013.

Explanation:

Section 3 (1) of the Companies Act, 2013 defines a company as "a company incorporated under this Act or under any previous company law." This definition includes both private and public companies, as well as any other type of company that may be incorporated under the Act.

The Companies Act, 2013 is the primary legislation governing the incorporation, management, and operation of companies in India. It replaced the earlier Companies Act, 1956 and introduced many new provisions to enhance corporate governance and transparency.

In summary, the definition of the term company is provided under Section 3 (1) of the Companies Act, 2013, which encompasses all types of companies incorporated under the Act or any previous company law.
Community Answer
A partnership firm cannot exceed the maximum number on other than bank...
In partnership minimum no. of of partners 2and maximum 20 other than banking business.
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A partnership firm cannot exceed the maximum number on other than banking business:a)10 membersb)20 membersc)15 membersd)25 membersCorrect answer is option 'B'. Can you explain this answer?
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