[amp_mcq option1=”In the absence of partnership deed profit and loss is distributed among partners in equal ratio” option2=”Minor partner can get his share of profit” option3=”The relation between partners are created through deed” option4=”Registration of partnership is compulsory” correct=”option4″]<\/p>\n
The correct answer is: D. Registration of partnership is compulsory.<\/p>\n
A partnership is a business relationship between two or more people who agree to share the profits and losses of a business. A partnership deed is a written agreement that sets out the terms of the partnership, such as the contributions of each partner, the division of profits and losses, and the management of the business.<\/p>\n
In the absence of a partnership deed, the law will presume that the partners share profits and losses equally. However, the partners can agree to a different division of profits and losses in the partnership deed.<\/p>\n
A minor is a person who is under the age of 18. A minor cannot enter into a contract, including a partnership agreement. However, a minor can still be a partner in a partnership if the other partners agree to it.<\/p>\n
The registration of a partnership is not compulsory in India. However, there are some benefits to registering a partnership, such as the ability to sue and be sued in the name of the partnership, and the ability to obtain a partnership bank account.<\/p>\n
In conclusion, the statement “Registration of partnership is compulsory” is not true.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”In the absence of partnership deed profit and loss is distributed among partners in equal ratio” option2=”Minor partner can get his share of profit” option3=”The relation between partners are created through deed” option4=”Registration of partnership is compulsory” correct=”option4″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-53636","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"\n