Question : The relationship of partners with the firm is:
Option 1: as a manager
Option 2: as a servant
Option 3: as an agent
Option 4: as a monopolist
Correct Answer: as an agent
Solution : In a principal-agent relationship, one party (the principal) designates another party (the agent) to act on the principal's behalf. The term "agency" refers to the partnership between the principal and the agent. Therefore, there is a principal and agent relationship of partners with the firm. Hence, the correct option is 3.
Question : The relation of a partner with the firm is that of:
Question : Loss incurred by a partnership firm at the end of accounting year is distributed among
Question : Who among the following cannot be a partners firm?
Question : Current Account of the partners should be opened when capital are:
Question : Which of the following is an appropriation of profit?
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