Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Partnership

Question:

Maximum number of partners in a partnership are prescribed under which section of the Companies Act 2013?

Options:

215

350

464

None of the above

Correct Answer:

464

Explanation:

The correct answer is option 3- 464.

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 cannot be more than 100. The Central government has prescribed the maximum number of partners in a firm to be 50.