Practicing Success

Target Exam

CUET

Subject

Accountancy

Chapter

Accounting for Partnership

Question:

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 can not be more than......

Options:

20

50

100

No Limit

Correct Answer:

100

Explanation:

There is limit on their maximum number of partners.

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 can not be more than 100.

The Central government has prescribed the maximum number of partners in a firm to be 50.