Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Partnership

Question:

Under which section of the Indian Partnership Act, 1932, definition of partnership defined?

Options:

2

3

4

5

Correct Answer:

4

Explanation:

The correct answer is option 3- 4.

Section 4 of the Indian Partnership Act, 1932, defined partnership.

Section 4 of the Indian Partnership Act,1932 defined partnership- " Partnership is the relation between persons who have agreed to share the profits of business carried on by all or any of them acting for all."