Partnership
Ans. According to Partnership Act,1932"Partnership is the relation between Persons who have agreed to share Profits of a business carried on by all or any of them acting for all".
Note : You have to remember above Definition for exam point of view.
2.How many Types of Partners are in Partnership ?
Ans.There Are Total 6(Six) Types of Partners are in Partnership firm (Business)which are as follows:
A)Active Partner /Working Partner
B)Sleeping Partner /Dormant Partner
C)Nominal Partner
D)Minor Partner
E)Partner in Profits Only
F)Partner By Estoppel
- What is Partnership?
Ans. According to Partnership Act,1932"Partnership is the relation between Persons who have agreed to share Profits of a business carried on by all or any of them acting for all".
Note : You have to remember above Definition for exam point of view.
Explanation : Partnership is a type of relation between two or more Person who come together to carry on business. The person carrying on a business are called Partners of Business.The Business is managed by all the partners jointly or it may be managed by a partner onbehalf of all other partners.These Partner Carry on business with a view to share profits or losses of the firm.
2.How many Types of Partners are in Partnership ?
Ans.There Are Total 6(Six) Types of Partners are in Partnership firm (Business)which are as follows:
A)Active Partner /Working Partner
B)Sleeping Partner /Dormant Partner
C)Nominal Partner
D)Minor Partner
E)Partner in Profits Only
F)Partner By Estoppel
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