Advertisements
Advertisements
Question
The Partnership Act limits the maximum number of partners in a non-banking partnership firm to ______.
Advertisements
Solution
The Partnership Act limits the maximum number of partners in a non-banking partnership firm to 50.
APPEARS IN
RELATED QUESTIONS
Indian Partnership Act was passed in the year...............................
A Joint Stock Company can raise huge capital.
Write the word. or phrase or tenn which can substitute the following statement~:
The senior most family member of a Joint· Hindu family firm.
Distinguish between the following.
Joint Hindu Family firm and Partnership
State with reasons whether the following statement true or false.
In a partnership the liability of every partner of a firm is unlimited.
Write short answer of the following.
Define partnership and state its important features.
Why is partnership considered by some to be a relatively unpopular form of business ownership?
The business assets of an organisation amount to Rs. 50,000 but the debts that remain unpaid are Rs. 80,000. What course of action can the creditors take if
(a) The organisation is a sole proprietorship firm
(b) The organisation is a partnership firm with Anthony and Akbar as partners. Which of the two partners can the creditors approach for repayment of debt? Explain giving reasons
Define the following business entities:
Partnership
