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Give the Word / Term Or Phrase Which Can Substitute the Following Statement. a Partner Below the Age of 18 Years. - Book Keeping and Accountancy

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Question

Give the word / term or phrase which can substitute the following statement.

A partner below the age of 18 years.

One Word/Term Answer
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Solution

Minor partner

Explanation: A partner below the age of 18 years is known as a minor partner. He can be admitted to the benefits of the partnership firm only with the consent of all the partners.

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Chapter 1: Introduction to Partnership - Exercise 2 [Page 13]

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Micheal Vaz Book Keeping and Accountancy [English] 12 Standard HSC Maharashtra State Board
Chapter 1 Introduction to Partnership
Exercise 2 | Q 8 | Page 13
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