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Question
Select the proper option from the options given below and rewrite the completed sentence.
In a partnership firm every partner is the principal as well as the ________.
Options
agent
karta
partner
Solution
In a partnership firm every partner is the principal as well as the agent.
Explanation:
In a partnership firm, every partner is the principal as well as the agent. It means that any partner can enter into a contract with other firms by himself (as the principal), without discussing it with other partners (acting as an agent on behalf of others).
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