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What is meant by ‘mutual agency’ in the case of partnership? - Accounts

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प्रश्न

What is meant by ‘mutual agency’ in the case of partnership?

लघु उत्तरीय
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उत्तर

Mutual agency in a partnership means that each partner acts as both an agent and a principal. Each partner has the authority to bind the firm and other partners through their actions, and all partners are bound by the actions of any partner acting within the scope of the partnership business.

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अध्याय 1: Accounting for Partnership Firms - Fundamentals - SHORT ANSWER QUESTIONS [पृष्ठ १.१२६]

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डी. के. गोएल Accountancy Volume 1 and 2 [English] Class 12 ISC
अध्याय 1 Accounting for Partnership Firms - Fundamentals
SHORT ANSWER QUESTIONS | Q 2. | पृष्ठ १.१२६
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