English

“In a partnership form of business, each partner can bind the firm and other partners by his/her acts.” - Entrepreneurship

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Question

In the light of the given statement, identify the essential feature of partnership form of business organisation referred to and choose the correct option:

“In a partnership form of business, each partner can bind the firm and other partners by his/her acts.”

Options

  • implied authority

  • utmost good faith

  • mutual agency

  • separate legal entity

MCQ

Solution

mutual agency

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2024-2025 (March) Board Sample Paper
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