Download App

P1 C1 INTRODUCTION OF PARTNERSHIP — Elements of Account STD 12 Commerce — Question

Gujarat BoardEnglish MediumSTD 12 CommerceElements of AccountP1 C1 INTRODUCTION OF PARTNERSHIP1 Mark
Question
Give the meaning of partnership.
✓

Answer

"Partnership is the relation between the persons who have agreed upon to share the profit 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.

Start Generating Free

Explore more

More "1 Marks Each" from P1 C1 INTRODUCTION OF PARTNERSHIP→P1 C1 INTRODUCTION OF PARTNERSHIP — all question types→Elements of Account STD 12 Commerce question papers→Gujarat Board STD 12 Commerce question papers→Gujarat Board question paper generator→

Similar questions

How is the accumulated profit and accumulated loss distributed at the time of retirement ?
→
Generally how many items are analysed in financial statement analysis ‘? Which are those ?
→
On which side of realisation account, the sale of assets is recorded on dissolution of partnership firm.
→
According to Companies Act $2013,$ for what duration can a company issue debentures?
→
Why assets and Liabilities of a firm are revalued at the time of retirement or death of a partner?
→
To which account profit or loss of Revaluation Account is to be recorded?
→
Are financial expenses included to determine operating ratio?
→
Why it is necessary to open partners current account?
→
A reserve which is invested shall be shown as a .......... .
→
Which transactions are always included in operating activities ?
→