Practicing Success
Practicing Success
CUET Preparation Today
Which of the following situations does not constitute a partnership firm? |
Joint ownership of a property Purchase of plant & machinery once by three friends Purchase of land once by two friends All of these |
All of these |
The correct answer is option 4- All of these. All of these does not constitute a partnership as mere co-ownership of the property does not give rise to the partnership. There should be some business that the partners will carry. Joint ownership or sharing of expenses together does not make the friends partners and a partnership firm. |
