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Which of the following statements is not true? (1) All partners share profit and losses equally in the absence of a partnership deed. -

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Question

Which of the following statements is not true?

Options

  • All partners share profit and losses equally in the absence of a partnership deed.

  • A minor can be admitted as a partner, only into the benefits of the partnership.

  • A sleeping partner is allowed to sleep during a meeting of the partners. 

  • None of the above

MCQ

Solution

A sleeping partner is allowed to sleep during a meeting of the partners.

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