Question : Assertion (A): The firm's partners are Amit, Bharat, and Charu. The Partnership Agreement provides that Amit will be paid a salary of 60,000 per year. Bharat and Charu have also requested salaries of 60,000 each. Salaries for Bharat and Charu will be permitted.
Reason (R): In the absence of a Partnership Deed, the Partnership Act of 1932 applies. As a result, Bharat and Charu will not be paid.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is False

Option 4: Assertion (A) is false and Reason (R) is true

Question : Assertion (A): The partnership deed may be either written or oral.
Reason (R): In order to avoid all misunderstandings and disputes, it is always the best course to have a written agreement duly signed and registered under the Act.

Question : Assertion (A):  If the partnership deed does not address the payment of interest, the interest on loans to partners is charged at a rate of 6% per year.
Reason (R): In the absence of Partnership Deed, provisions of the Partnership Act, 1932 apply. Therefore, 6%

Question : Assertion (A): The partnership agreement can be written or oral.
Reason (R): To avoid any misunderstandings or disputes, it is always best to have a written agreement that has been signed and registered under the Act.

Question : Assertion: The National Food for Work Program was started in 2004 with the aim of giving rural communities more chances for self-employment.
Reason: In 2005, the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) included this scheme.

Question : Assertion (A): The paradox is a seemingly absurd or contradictory statement, though, often a true statement.
Reason (R): It means, an act which is beneficial for an individual, may prove to be harmful for the economy as a whole.