Multiple choice

Section 13 (b) of the Indian partnership Act states the right of a partner to share the profits and duty to contribute to the losses.

  1. True

  2. False

  3. Partly true

  4. Cannot say
Reveal answer Fill a bubble to check yourself
A Correct answer
Explanation

Section 13(b) of the Indian Partnership Act 1932 clearly states that every partner has a right to share in the profits of the firm and must contribute to the losses according to their agreed share ratio. This is a fundamental principle of partnership - partners share both gains and burdens. The answer True is correct because this section explicitly establishes this dual right and duty.

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