Which of the following is not true about nature of partnership?
A society formed for charitable purposes is not a partnership merely by being an association. Section 4 of the Indian Partnership Act, 1932 requires an agreement to share…
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Which of the following is not true about nature of partnership?
Answer and explanation
Correct answer A
A society formed for charitable purposes is not a partnership merely by being an association. Section 4 of the Indian Partnership Act, 1932 requires an agreement to share business profits and mutual agency.
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