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Questions
Answer in one sentence.
What do you mean by a general partnership?
What is general partnership?
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Solution
A general partnership is a form of partnership where the liability of all the partners is unlimited, joint, and several. Every partner has an equal right, which can be formed under the Partnership Act of 1932.
RELATED QUESTIONS
State True or False:
Partnership agreement may be oral or written.
Complete the sentence.
When there is no provision in partnership agreement regarding time period for partnership then it is known as _____________.
Correct the underlined word and rewrite the following sentence.
In a Partnership firm, minimum three members are required.
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?
Distinguish between:
Partnership Firm and Joint Hindi Family.
Answer in brief.
State any four types of partners.
Justify the following statement.
All partners are joint owners of the Partnership firm.
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?
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 law defines a partnership in India and provides its legal framework?
Which of the following is a major demerit of partnership firms?
