Goodwill of the partnership business is included in the property of the firm under the Indian…
Section 14 of the Indian Partnership Act, 1932 includes the goodwill of the business in the firm's property, subject to the contract between the partners. The provision…
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Goodwill of the partnership business is included in the property of the firm under the Indian Partnership Act, 1932
Answer and explanation
Correct answer A
Section 14 of the Indian Partnership Act, 1932 includes the goodwill of the business in the firm's property, subject to the contract between the partners. The provision concerns the assets belonging to the firm rather than an individual partner.
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Karnataka SET (KSET)