Practicing Success
Practicing Success
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Match List I with List II in context of partnership firm.
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A-II, B-III, C-I A-I, B-II, C-III A-III, B-I, C-II A-III, B-II, C-I |
A-III, B-I, C-II |
To establish a partnership, a minimum of two individuals must unite with a shared objective. Thus, a firm can have at least two partners. However, there is a maximum limit on the number of partners. As per Section 464 of the Companies Act 2013, the Central Government has the authority to specify the maximum number of partners in a firm, which cannot exceed 100. Accordingly, the Central Government has set the maximum number of partners in a firm to be 50. |
