A partnership can have maximum 50 partners. This limit has been set by the: Option 1: Indian Partnership Act, 1932 Option 2: State Government Option 3: Indian Contract Act, 1872 Option 4: Central Government

The answer is 'Central Government'. View full solution:

CUET Accountancy - A partnership can have maximum 50 partners. This limit has been set by the: | PYQs + Solutions

CUET Accountancy

Partnership

Hard

Indian Partnership Act, 1932

State Government

Indian Contract Act, 1872

Central Government

✅ Correct Option: 4

Related questions:

14 May Shift 2

Saloni and Srishti are partners in a firm. Their capital accounts as on April 01, 2019 showed a balance of Rs. 2,00,000 and Rs. 3,00,000 respectively. On July 01, 2019 Saloni introduced additional capital of Rs. 50,000 and Srishti, Rs. 60,000. On October 01, 2019 Saloni withdrew Rs. 30,000 and on January 01, 2020 Srishti withdrew Rs. 15,000 from their respective capitals. Interest is allowed @ 8% p.a. Calculate interest payable on capital to Saloni during the financial year 2019–2020.

30 May Shift 2

If there are some accumulated losses in the form of a debit balance of profit and loss account appearing in the balance sheet of the firm, it should be transferred to:

20 July Shift 1

From the following information, identify when goodwill is required to be calculated.

(a) Admission of a Partner

(b) Amalgamation of partnership firms

(d) Retirement and Death of any partner

(e) Preparation of Balance sheet

Choose the correct answer from the options given below :

CUET Accountancy PYQs

Keyboard Shortcuts