Practicing Success
Practicing Success
CUET Preparation Today
| Assertion: The partnership agreement may be either written or oral. Reasoning: In order to avoid all misunderstandings and disputes, it is always the best course to have a written agreement duly signed and registered under the Act. |
Both Assertion (A) and reasoning (R) are correct and R is the correct explanation of A. Both Assertion (A) and reasoning (R) are correct and but R is not the correct explanation of A. Assertion (A) is true but Reasoning (R) is not correct. Assertion (A) is not true but Reasoning (R) is correct. |
| Both Assertion (A) and reasoning (R) are correct and but R is not the correct explanation of A. |
| Partnership is the result of an agreement between two or more persons to do business and share its profits and losses. The agreement becomes the basis of relationship between the partners. It is not necessary that such agreement is in written form. An oral agreement is equally valid. But in order to avoid disputes, it is preferred that the partners have a written agreement. Both A and R are true but R is not the correct explanation of A. |
