Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Partnership

Question:
In the absence of partnership deed, how are mutual relations of partners governed?
Options:
As all partners want
As majority of partners want
Governed by Indian Partnership Act,1932
None of these
Correct Answer:
Governed by Indian Partnership Act,1932
Explanation:
In absence of agreement related to any clause, provision of Indian Partnership Act applies.