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 Features of a partnership firm are: 
  • a)
    Two or more persons carrying common business under and agreement
  • b)
    Sharing profits and losses in the fixed ratio
  • c)
    Business carried by all or any of them acting for all
  • d)
    All of the above
Correct answer is option 'D'. Can you explain this answer?
Most Upvoted Answer
Features of a partnership firm are:a)Two or more persons carrying comm...
Features of a Partnership Firm


  1. Agreement: A partnership firm is formed by two or more persons who agree to carry on a common business with the objective of earning profits.

  2. Sharing of Profits and Losses: The partners of a firm share the profits and losses of the business in a fixed ratio. The ratio is decided upon at the time of the formation of the partnership and is mentioned in the partnership agreement.

  3. Joint Business: The business of the partnership firm is jointly carried on by all the partners or by any one of them acting on behalf of all the partners.



Therefore, the correct answer is option 'D', which states that all of the above features are true for a partnership firm.
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Community Answer
Features of a partnership firm are:a)Two or more persons carrying comm...
All the things which are shown above are features of partnership,as it requires two or more persons carrying same business,profit sharing,agent of each other.so option D is correct
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Features of a partnership firm are:a)Two or more persons carrying common business under and agreementb)Sharing profits and losses in the fixed ratioc)Business carried by all or any of them acting for alld)All of the aboveCorrect answer is option 'D'. Can you explain this answer?
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Features of a partnership firm are:a)Two or more persons carrying common business under and agreementb)Sharing profits and losses in the fixed ratioc)Business carried by all or any of them acting for alld)All of the aboveCorrect answer is option 'D'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Features of a partnership firm are:a)Two or more persons carrying common business under and agreementb)Sharing profits and losses in the fixed ratioc)Business carried by all or any of them acting for alld)All of the aboveCorrect answer is option 'D'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Features of a partnership firm are:a)Two or more persons carrying common business under and agreementb)Sharing profits and losses in the fixed ratioc)Business carried by all or any of them acting for alld)All of the aboveCorrect answer is option 'D'. Can you explain this answer?.
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