CBSE Class XII Accountancy Exam 2016 Question Paper

Question : 1

Total: 23

A group of 40 people wants to form a partnership firm. They want your advice regarding the maximum number of persons that can be there in a partnership firm and the name of the Act under whose provisions it is given.

Solution:

A partnership firm can have minimum two and maximum 50 partners as per the new Companies Act,2013 and vide Rule 10 of the companies (Miscellaneous) Rules, 2014.

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