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easyMCQCUET Accountancy 2025 24 May Shift 12026Accountancy
1 mark

By virtue of which section of the Indian Partnership Act 1932, partnership is defined 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'.

  1. A
    Section 1
  2. B
    Section 4
  3. C
    Section 2
  4. D
    Section 3

Solution & Step-by-step Explanation

According to Section 4 of the Indian Partnership Act, 1932, "Partnership is 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."

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By virtue of which section of the Indian Partnership Act 1932, partnership is defined 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'.
A
Section 1
B
Section 4
C
Section 2
D
Section 3

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