Advertisements
Advertisements
Question
Number of partners in a partnership firm may be ______.
Options
Maximum Two
Maximum Ten
Maximum One Hundred
Maximum Fifty
MCQ
Fill in the Blanks
Advertisements
Solution
Number of partners in a partnership firm may be maximum fifty.
Explanation:
Under the Indian Partnership Act, 1932, a partnership firm can have a maximum of 50 partners for non-banking businesses. For banking businesses, the limit is 10 partners. If the number of partners exceeds these limits, the business must be restructured as a company, not a partnership.
shaalaa.com
Is there an error in this question or solution?
