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:

22 May Shift 1

Yadu, Madhu and Vidu are partners, sharing profit and losses in the ratio of 2:2:1. Their fixed capitals on April 01, 2018 were:

Yadu Rs. 5,00,000, Madhu Rs. 4,00,000 and Vidu is 3,50,000.

As per the partnership deed, partners are entitled to interest on capital @5% p.a. and Yadu has to be paid a salary of Rs. 2000 per month. The net loss of the firm as per profit and loss account for the year ending March 31, 2019, amounted to Rs. 75,000. On the basis of the profit and loss appropriation account, Partners' distribution of loss would be:

14 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Sacrificing ratio	(I) Dissolution of Partnership
(B) Gaining Ratio	(II) Admission of a New Partner
(C) Executors Account	(III) Retirement of a Partner
(D) Realisation Account	(IV) Death of a Partner

Choose the correct answer from the options given below:

14 May Shift 1

If partnership deed is silent on the profit sharing ratio and other provisions: interest @_____ per annum is allowed on loans advanced by partners:

CUET Accountancy PYQs

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