Forms of Busine...

In order that persons may become partners, it is essential that _________.
I. There must be at least two persons
II. There must be a relationship arising out of status between two or more persons.
III. The agreement must be to share the profits of a business
Select the correct answer from the options given:

In which of the following case there is NO partnership?
A. The members of a HUF carrying on a family business
B. Burmese Buddhist Husband and wife carrying on business.
Select the correct answer from the options given.

Persons who have entered into partnership with one another are called individually __________________.

_________ business is a form of business organization found only in India.

Section $$5$$ of the Act states that the relation of partnership arises from ___________.

Persons entering into partnership contract may be.
$$(1)$$ Natural persons
$$(2)$$ Artificial persons
Select the correct answer from the options given:

The partnership deed is also called as _______________.

Which of the following does not reflect the mutual agency principle in partnership?

Statement X :
Karta is the custodian of the income and assets of the HUF
Statement Y:
An adopted son who is the eldest in the family can be qualified to be a Karta of HUF.

Which of the following can be treated as disadvantage of HUF form of business?