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Partnership Questions and Answers (Q&A)

John Smith
Answered: May 30, 2020
A minor can be a full-fledged partner in a firm.

1 Answer

520 views
Deltzx
Answered: May 30, 2020
D) A partnership requires written Articles of Partnership.

1 Answer

448 views
John Smith
Answered: May 30, 2020
Real, in that the partners must deliver their contribution s in order for the partnership contract to be perfected.

1 Answer

316 views
John Smith
Answered: May 30, 2020
The Indian Partnership Act,1932

1 Answer

258 views
Deltzx
Answered: May 30, 2020
E) The partner with a deficit balance contributes personal assets only if those personal assets exceed personal liabilities.

1 Answer

252 views
Sweetbabybear
Answered: Feb 10, 2017
TRUE. A partner may associate 3rd person concerning of his share in the partnership, this known as sub-partner. A sub-partner cannot affect the partnership because he has no say the management to...Read More

2 Answers

239 views
John Smith
Answered: May 30, 2020
The articles are kept secret among the members.

1 Answer

236 views
Wyatt Williams
Answered: May 30, 2020
False, as a firm is not regarded as a person in legal sense of the term.

1 Answer

233 views
Wyatt Williams
Answered: May 30, 2020
All the partners must agree to share the loss in case of losses.

1 Answer

233 views
A. Samuel, Content Manager
Answered: Jul 16, 2019
Small business startup owners have important decisions to make in structuring their companies. The following are the significant differences between a Sole Proprietorship and a Limited Liability...Read More

2 Answers

230 views
Sweetbabybear
Answered: Feb 10, 2017
The loses and profit shall be distributed conformity with the agreement, with the absence of stipulation the sharing of profit and loses shall be in proportion of what he may have contributed. If...Read More

2 Answers

230 views
John Smith
Answered: May 30, 2020
Upon the issuance of the certificate of incorporation.

1 Answer

230 views
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