Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Partnership

Question:

By virtue of which section of the Indian Partnership Act 1932, partnership is defined as the 'relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.

Options:

Section 1

Section 4

Section 2

Section 3

Correct Answer:

Section 4

Explanation:

The correct answer is Option (2) → Section 4