Which of the following is not always an

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Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Partnership

Question:

Which of the following is not always an essential feature of partnership?

Options:

Sharing of profits and losses

Relationship of mutual agency among the partners.

Liability of partners is always unlimited.

Agreement to carry lawful business

Correct Answer:

Liability of partners is always unlimited.

Explanation:

The correct answer is Option (3) → Liability of partners is always unlimited.