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Under Section 4 of the Indian Partnership Act, 1932, 'partnership' is the relation between persons who have agreed to:
APool capital for investment
BForm a registered company
CShare the profits of a business carried on by all or any of them acting for all
DJointly own property
Answer & Solution
Correct answer: C. Share the profits of a business carried on by all or any of them acting for all
Section 4 defines partnership as the relation between persons who agree to share the profits of a business carried on by all or any of them acting for all.
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