Select the maximum number of partners that Central Government has prescribed in case of a partnership firm.
Answer & explanation
Correct answer: option 4
The correct answer is Option (4) - 50.
50 is the maximum number of partners that Central Government has prescribed in case of a partnership firm.
By virtue of Section 464 of the Companies Act 2013, the Central Government is empowered to prescribe maximum number of partners in a firm but the number of partners can not be more than 100. The Central government has prescribed the maximum number of partners in a firm to be 50.