Economics · Business Studies
Which of the following statements regarding a partnership firm is NOT true?
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Registration of a partnership firm is compulsory under the Indian Partnership Act.✓
- 2The relations between partners are created through a deed/agreement.
- 3A minor partner can get his share of profit.
- 4In the absence of a partnership deed, profit and loss are distributed among partners in an equal ratio.
Correct answer
Registration of a partnership firm is compulsory under the Indian Partnership Act.
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