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Commerce Test

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Multiple Choice

Directions: Choose the correct option for the given question:

Consider the following statements:
In the absence of an agreement, a partner of a firm has the right to

  1. Claim remuneration for taking part in the management
  2. Take part in the conduct and management of business
  3. Share the profits of the firm equally with other partners
  4. Pledge partnership property as a security for his own private debts
    Which of the statements given above is/are correct?
  1. (1) and (4)
  2. (2) and (3)
  3. (1) only
  4. (4) only
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