Advertisements
Advertisements
Question
Complete the sentence.
When there is no provision in partnership agreement regarding time period for partnership then it is known as _____________.
Advertisements
Solution
When there is no provision in partnership agreement regarding time period for partnership then it is known as Partnership at will.
APPEARS IN
RELATED QUESTIONS
State True or False:
In a partnership firm, the liability of every partner is limited, joint and several.
Answer in one sentence.
What do you mean by minor 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.
- Identify a business in the above example.
- Comment on it?
- 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.
Justify the following statement.
Active partners take active part in day to day management of partnership firm.
Attempt the following:
Explain different types of Partnership Firms.
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?
Which law defines a partnership in India and provides its legal framework?
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?
