Multiple choice

A firm is the name of

  1. the partners

  2. the minors in the firm

  3. the business under which the firm carries on business

  4. the collective name under which it caries on business

Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

A firm name is the collective trading name or brand under which partners conduct business together. It is not the partners themselves, nor specifically the minors in the firm, nor the business description; it is the business identity used in commercial dealings.