Partnership

Accounting

Easy

common

Which of the following is not a feature of partnership as per Partnership Act 1932 ?

Two or more partners

Partnership is the result of an agreement to do business and share its profits and losses.

A partnership concern business may be carried on by all the partners or any of them acting for all.

Limited Liability

✅ Correct Option: 4

Partners have unlimited liability and are jointly and severally liable for the firm's debts. Two or more persons, an agreement to share profits and losses, and mutual agency are all genuine features of partnership.

2025: 14 May Shift 2

Which statement is not true about Capital Accounts of Partner-

2022: 20 July Shift 1

If average capital employed in a firm is Rs. 15,00,000 and fair rate of return in the same industry was 8%. Goodwill was valued at Rs. 90,000 on the basis of three times of super profit. The Average Profit of the firm is ?

2025: 27 May Shift 2

Under the fixed capital method, the capital of the partners shall remain fixed unless additional capital is introduced or a part of the capital is withdrawn as per the agreement between the partners.

Which among the following is NOT the feature of the fixed capital method?

2026: 6 June Shift 1

If partnership deed is silent, what is the interest on capital payable to the partners?

2025: 13 May Shift 2

"The business of a partnership concern may be carried on by all the partners or any one of them acting for all", indicate which feature of the partnership?

2025: 27 May Shift 1

If the partnership deed is silent on interest on capital, then:

Which of the following is not a feature of partnership as per Partnership Act 1932 ?

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