Partnership - Basics
Flashcard
•
Other
•
12th Grade
•
Hard
Wayground Content
FREE Resource
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10 questions
Show all answers
1.
FLASHCARD QUESTION
Front
Maximum number of partners in a Partnership as prescribed by Companies Act is
Back
50
2.
FLASHCARD QUESTION
Front
The partners in a partnership are collectively known as
Back
Firm
3.
FLASHCARD QUESTION
Front
The written agreement between partners is known as
Back
partnership deed
4.
FLASHCARD QUESTION
Front
Partners are principal and agent
Back
True
5.
FLASHCARD QUESTION
Front
Liability of partners is
Back
Unlimited
6.
FLASHCARD QUESTION
Front
Partnership agreement can only be in written form
Back
False
7.
FLASHCARD QUESTION
Front
Partnership can be made for charity purpose also
Back
False
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