Which of these is not an essential feature of a partnership firm?

The correct answer is B. Compulsory registration.

A partnership is a business relationship between two or more people who agree to share the profits and losses of the business. The partners are jointly and severally liable for the debts of the partnership.

The essential features of a partnership are:

• Mutual agency: The partners are agents of each other and can bind the partnership to contracts.
• Association of two or more persons: A partnership must have at least two partners.
• Existence of business: The partnership must have a business purpose.
• Sharing of profits and losses: The partners must share the profits and losses of the business.

Registration of a partnership is not compulsory in India. However, it is advisable to register a partnership to enjoy certain benefits, such as limited liability, perpetual succession, and the ability to sue and be sued in the name of the partnership.

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