English

Answer in one sentence. What do you mean by partner-in-profits only?

Advertisements
Advertisements

Question

Answer in one sentence.

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

One Line Answer
Advertisements

Solution

A partner-in-profits only is a partner who gets into an agreement to share only the profits of the partnership firm and not the losses.

shaalaa.com
  Is there an error in this question or solution?
Chapter 4: Forms of Business Organisation - I - EXERCISE [Page 92]

APPEARS IN

Balbharati Organisation of Commerce and Management [English] Standard 11 Maharashtra State Board
Chapter 4 Forms of Business Organisation - I
EXERCISE | Q 1. H) 8) | Page 92

RELATED QUESTIONS

Complete the sentence.

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


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 is Quasi Partner?


Answer in one sentence.

What do you mean by a general partnership?


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.

  1. Identify a business in the above example.
  2. Comment on it?
  3. Which two professions are mentioned here?

Answer in brief.

State any four types of partners.


Justify the following statement.

All partners are joint owners of the Partnership firm.


Answer in one sentence.

What is Quasi Partner?


Answer in one sentence:

What is Quasi Partner?


Answer in one sentence.

What is Quasi Partner?


Answer in one sentence.

What is Quasi Partner?


Answer in one sentence.

What is Quasi Partner?


Answer in one sentence.

What is Quasi Partner?


Answer in one sentence.

What is Quasi Partner?


According to the features of partnership shown in the image, what is required for a partner to transfer their ownership interest to someone outside the firm?


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______.


Share
Notifications

Englishहिंदीमराठी


      Forgot password?
Use app×