Question : What is the meaning of mutual agency in a partnership firm?
Option 1: The firm will carry on a lawful business
Option 2: The partners will share the profit/losses of the business
Option 3: Business may be carried on by all or by any of them acting for all
Option 4: None of these
Correct Answer: Business may be carried on by all or by any of them acting for all
Solution : Mutual agency in a partnership means business is carried on by all the partners or by any of them acting for all. Hence, the correct option is 3.
Question :
Summarize the following
Question : Assertion (A): A partnership is a relationship between individuals who
Question : "Impulse" can be defined as:
Which one of the following is not a function of the central bank in an economy?
Question : When a body is immersed in a liquid, the force acting on it is:
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