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प्रश्न
Justify the following statement.
All partners are joint owners of the Partnership firm.
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उत्तर
- According to the Indian Partnership Act, 1932, all the partners are joint owners of the property of the partnership firm.
- No partner can use the property of the firm for his personal interest.
- No partner is allowed to take any decision without the consent of all the partners.
- No partners can make any secret profit in the business.
- Profits and losses are shared among the partners in the profit sharing ratio mentioned in the deed.
- Thus all partners are joint owners of a Partnership firm.
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संबंधित प्रश्न
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.
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 minor partner?
Correct the underlined word and rewrite the following sentence.
In a Partnership firm, minimum three members are required.
Correct the underlined word and rewrite the following sentence.
Indian Partnership Act, 1940 is applicable in India.
Explain the following term/concept:
Partnership Firm.
Study the following case situation and express your opinion:
Mr. Jumbo a Chartered Accountant by profession and Mrs. Timbo, an Architect by professing running a firm namely ‘Buildsheet’ in Nagpur.
- Identify a business in the above example.
- Comment on it?
- Which two professions are mentioned here?
Attempt the following:
Explain different types of Partners.
Answer in one sentence.
What is Quasi Partner?
Answer in one sentence:
What is Quasi Partner?
What is Quasi partner?
Answer in one sentence.
What is Quasi Partner?
Mr. Sawant a Chartered Accountant by profession and Mrs. Tambe, an Architect by profession running a firm namely ‘ST Firms’ in Nagpur.
- Identify the form of business organisation in the above example.
- Is it a registered organisation?
- What is the Profession of Mr. Sawant?
Which of the following is a major demerit of partnership firms?
Dr. Sharma and Dr. Mehta jointly manage a clinic, share the profits, losses, and responsibilities. Their business is best classified as a______.
