Practicing Success
There are two statements marked as Assertion (A) and Reason (R). Mark your answer as per the codes provided below- |
Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A. Both Assertion (A) and reasoning (R) are correct and but R is not the correct explanation of A. Assertion (A) is true but Reasoning (R) is not correct. Assertion (A) is not true but Reasoning (R) is correct. |
Assertion (A) is true but Reasoning (R) is not correct. |
The definition of partnership is provided in the partnership act 1932. Section 4 of the Indian Partnership Act 1932 defines partnership 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’. |