Target Exam

CUET

Subject

-- Accountancy Part A

Chapter

Accounting for Partnership

Question:

Which of the following characteristics is highlighted in the statement: "He can bind other partners by his acts and also is bound by the acts of other partners with regard to the business of the firm."

Options:

Agreement between Partners

Liability of Partners

Sharing of Profit

Mutual Agency

Correct Answer:

Mutual Agency

Explanation:

The correct answer is Option (4) → Mutual Agency