Home › Karnataka PUC II › accountancy › partnership_basics › Partnership is defined in which Indian statute?
Partnership is defined in which Indian statute?
AIndian Contract Act 1872
BCompanies Act 2013
CSale of Goods Act 1930
DIndian Partnership Act 1932
Answer & Solution
Correct answer: D. Indian Partnership Act 1932
Section 4 of the Indian Partnership Act 1932 defines partnership.
Related questions
If the partnership deed is silent about interest on partners' capital, thenWhich item is treated as an APPROPRIATION of profit (debited to the Profit & Loss AppropriWhich statement about a partnership firm's legal status is CORRECT?Which of the following is NOT an essential feature of a partnership?If a partner gives a loan to the firm and the deed is silent on interest, the partner is eAs per the Companies Act 2013 read with the prescribed Rules, what is the maximum number oIf the partnership deed is silent on profit-sharing ratio, profits and losses are shared