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mediumMCQCUET Accountancy 2025 22 May Shift 12026Accountancy
1 mark

Which of the following statement is incorrect?

  1. A
    Valid partnership can be formulated even without a written agreement between the partners.
  2. B
    Each partner will share profit in same proportion as other in case partnership deed is not there.
  3. C
    Maximum number of partners as prescribed by Central Government can be 50.
  4. D
    The method of settlement of dispute among the partner cannot be part of the partnership deed.
  5. E
    None of the above

Solution & Step-by-step Explanation

The content of a partnership deed can include any terms mutually decided by the partners to smooth out operations, which includes the methods and mechanisms of dispute settlements. Stating that it cannot be part of the deed is factually incorrect.

Practice this question

Try it yourself before checking the explanation above.

Which of the following statement is incorrect?
A
Valid partnership can be formulated even without a written agreement between the partners.
B
Each partner will share profit in same proportion as other in case partnership deed is not there.
C
Maximum number of partners as prescribed by Central Government can be 50.
D
The method of settlement of dispute among the partner cannot be part of the partnership deed.
E
None of the above

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