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AP
Question Practice

Which of the following elements is NOT essential for the formation of a partnership?

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MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Accounting for Partnership: Ba...
Question Bank

Which of the following element...

Single Answer MCQ
Q-00081976

Which of the following elements is NOT essential for the formation of a partnership?

1

Sharing of profits

2

Written agreement

3

Mutual agency

4

Conducting business

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Q1.

What is a partnership and what are its chief characteristics?

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Q2.

Explain the main provisions of the Indian Partnership Act 1932 that are relevant to partnership accounts in the absence of a partnership deed.

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Q3.

What is the primary purpose of a partnership deed?

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Q4.

If a partnership deed is silent on the profit-sharing ratio, how should profits be shared?

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