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easyMCQCUET Accountancy 2025 13 May Shift 22026Accountancy
1 mark

"The business of a partnership concern may be carried on by all the partners or any one of them acting for all." Which core feature of partnership does this statement indicate?

  1. A
    Agreement
  2. B
    Mutual agency
  3. C
    Business
  4. D
    Liability of partners

Solution & Step-by-step Explanation

The principle of Mutual Agency implies that every partner acts as both an agent and a principal for the firm. A partner can bind all other partners by his actions on behalf of the firm, allowing the business to be managed effectively by one or more individuals acting for everyone.

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"The business of a partnership concern may be carried on by all the partners or any one of them acting for all." Which core feature of partnership does this statement indicate?
A
Agreement
B
Mutual agency
C
Business
D
Liability of partners

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