1, 2, 3, 4
2, 3, 4, 6
3, 4, 5, 6
2, 3, 5, 6
Answer is Wrong!
Answer is Right!
The correct answer is: D. 2, 3, 5, 6
- 2. Every partner has a right to take part in the management of business. This is a general rule, but it can be modified by the partnership agreement. For example, the agreement may state that only certain partners have the right to manage the business.
- 3. Every partner has a joint ownership of partnership property. This means that all partners own all of the partnership property, and each partner has an equal right to use and enjoy it. However, the partnership agreement may specify how the property is to be used and enjoyed.
- 5. Every partner has a right to inspect the books of account and have a copy of the same. This right is important because it allows partners to see how the business is being run and to make sure that their interests are being protected.
- 6. In case of emergency, a partner has a right to act as a man of prudence. This means that a partner can take action to protect the partnership’s interests, even if it means going against the partnership agreement. However, the partner must act in good faith and must not exceed the scope of their authority.
The other options are incorrect because they are not always true. For example, a partner does not always have the right to allow the admission of a new partner. This right can be reserved to certain partners or to a majority of the partners. Additionally, a partner does not always have the right to share the profits of the business. This right can be limited by the partnership agreement.