Partnership Firm

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Answer in one sentence.

What is Quasi Partner?

State True or False:

Partnership agreement may be oral or written.

State True or False:

In a partnership firm, the liability of every partner is limited, joint and several.

Complete the sentence.

Admission of new individual into existing business has given birth to _____________

Complete the sentence.

A partner who takes active participation in the day to day working of the business is known as _____________

Complete the sentence.

When there is no provision in partnership agreement regarding time period for partnership then it is known as _____________.

Answer in one sentence.

What do you mean by partner-in-profits only?

Answer in one sentence.

What do you mean by partnership firm?