Multiple choice

Which of the following cannot be claimed as a matter of right by a partner?

  1. To have access to books of account

  2. To take part in the conduct of business

  3. To share profits

  4. To receive remuneration
Reveal answer Fill a bubble to check yourself
D Correct answer
Explanation

Every partner, whether active or dormant, has a right of free access to all records, books and accounts of the business and also to examine and copy them. Every partner has a right to take part in the conduct and management of the business. Every partner is entitled to share in the profits equally, unless different proportions are stipulated. However, a partner has no right to receive any fixed remuneration from the firm.

Keep practicing — related questions