Which of the following statement is incorrect?
Held on 4 Jun 2025 · Verified 13 Jul 2026.
Valid partnership can be formulated even without a written agreement between the partners.
Each partner will share profit in same proportion as other in case partnership deed is not there.
Maximum number of partners as prescribed by Central Government can be 50
The method of settlement of dispute among the partner cannot be part of the partnership deed.
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An unrecorded asset is taken over by a creditor in full settlement in such a case
The liability of partners is
As per AS-26 Intangible assets like goodwill should be written off.
Identify the correct statement from the given below :-
By virtue of which section of the Indian Partnership Act 1932, partnership is defined as 'the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'.
Work through every CUET UG Partnership PYQ, year by year.