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Select the Most Appropriate Alternative from Those Given Below and Rewrite the Statement. - Book Keeping and Accountancy

MCQ

Select the most appropriate alternative from those given below and rewrite the statement.

Maximum __________________ persons are required to form a partnership having Banking business.

Options

  • two

  • seven

  • ten

  • twenty

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Solution

Maximum ten persons are required to form a partnership having Banking business.

Explanation: According to the Companies Act, 1956, a maximum of ten persons can form a partnership having Banking business.

Concept: The Indian Partnership Act 1932
  Is there an error in this question or solution?
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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 1 Introduction to Partnership
Exercise | Q 15 | Page 14
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