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  3. 12th Class
  4. Accountancy
  5. Fundamentals of Partnership

12th Class Accountancy Fundamentals of Partnership Question Bank MCQs - Accounting for Partnership Firm : Fundamental

  • question_answer
    Following are essential elements of a partnership firm except:

    A) atleast two persons

    B)   there is an agreement between all  partners  

    C) equal share of profits and losses

    D) partnership agreement is for some business

    Correct Answer: C

    Solution :

    [c] equal share of profits and losses


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