Multiple choice

Operation in a current account in the name a firm can be allowed in which of the following circumstances?

  1. If one of the partners has become insolvent.

  2. If one of the partners has given instructions to stop payment while others agree for operations.

  3. If one of the partners has died and the remaining partners want the operations for winding up the business.

  4. If number of partners has reached 21 due to two minors that have decided to become partners after attaining majority.
Reveal answer Fill a bubble to check yourself
C Correct answer
Explanation

If one of the partners has died and the remaining partners want the operations for winding up the business.

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