Which statements are true about partnership:
(A) Each partner carrying on the business is the principal as well as the agent for all the other partners.
(B) Valid partnership can be formulated even without a written agreement between the partners.
(C) Interest on partner's loan is to be given @ 12% p.a., if the deed is silent about the rate
(D) The maximum number of partners can be 50.
Choose the correct answer from the options given below:
Held on 13 May 2025 · Verified 13 Jul 2026.
(A), (B) and (D) only
(B) and (C) only
(A), (B), (C) and (D)
(B), (C) and (D) only
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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.