Introduction to Partnership and Partnership Final Accounts — Book Keeping & Accountancy STD 12 Commerce / Arts — Question
Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyIntroduction to Partnership and Partnership Final Accounts1 Mark
Question
Define : ‘Partnership’ as per the Indian Partnership Act 1932.
✓
Answer
As per the Indian Partnership Act 1932, “partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any one of them acting for all”.
Need a full question paper?
Generate a complete, print-ready paper with questions like this in minutes — across 16+ boards, with answer keys.