Multiple choice

The Indian Partnership Act, 1932

……………….is the relation between persons who have agreed to share the profits of a business carriedon by all or any of them acting for all.

  1. partnership

  2. firm

  3. co-operation

  4. None of these

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

Section 4 of the Indian Partnership Act defines partnership as the relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all. This is the foundational definition.