CUET Accountancy - Which among the following is NOT true about the Partnership? | PYQs + Solutions

CUET Accountancy 2025 30 May Shift 1

Partnership

Easy

common

Each partner is liable jointly with all the other partners and also severally to the third party for all the acts of the firm done while he is a partner.

Partnership is the result of an agreement between two or more persons to do business and share their profits and losses.

If persons join hands for the purpose of some charitable activity it can be termed as partnership.

The minimum number of partners in a firm can be two.

✅ Correct Option: 3

Related questions:

27 May Shift 2

Match List-I with List-II

List-I	List-II
(A) Bank (fresh capital introduced)	(I) Debit side of Partner's Current Account
(B) Interest on drawings	(II) Debit side of Partner's Capital Account
(C) Bank (permanent withdrawal of capital)	(III) Credit side of Partner's Current Account
(D) Commission	(IV) Credit side of Partner's Capital Account

Choose the correct answer from the options given below:

16 May Shift 1

If the amount is withdrawn at the end of each quarter, the interest is calculated on the total money withdrawn during the year, for a period of _______?

15 May Shift 1

What is the amount of profit to be credited to A's Capital account?

CUET Accountancy 2025 30 May Shift 1 PYQs

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