Practicing Success
Practicing Success
CUET Preparation Today
| Which of the following refers to essential features of partnership? 1 Minors can be partner in a partnership firm subject to approval of his parents. 2 The relation of partnership arises from contract and not from status. 3 Any association initiated to do charity work is not partnership. 4. There is an implied authority that any partner can act on behalf of the firm. |
2,3 and 4 1,2 and 4 1,2 and 3 1,2,3, and 4 |
| 2,3 and 4 |
| Minors cannot form a partnership firm as they are incompetent to enter into contract but can be admitted to the benefits of a running firm. |
