Question
Which of the following is true about a Minor's
liability in a partnership firm?Solution
As per S. 30 30. Minors admitted to the benefits of partnership.— (1) A person who is a minor according to the law to which he is subject may not be a partner in a firm, but, with the consent of all the partners for the time being, he may be admitted to the benefits of partnership. (2) Such minor has a right to such share of the property and of the profits of the firm as may be agreed upon, and he may have access to and inspect and copy any of the accounts of the firm. (3) Such minor’s share is liable for the acts of the firm, but the minor is not personally liable for any such act.
Which one of the following documents is not considered as a negotiable instrument under the Negotiable Instrument Act, 1881?
An individual who wants to be a resident of India U/S6(1) must stay in India for at least:
Receivables Velocity/average collection period of the company?
Which of the following statement is incorrect with respect to Valuation of Inventories?
Under what circumstances does a drop lock bond convert from a floating rate to a fixed rate bond?
A type of market where debt and stocks are traded and maturity period is more than a year is known as
Which among the following would be classified as a part of Internal Liability?
1 Auditing begins where ______ ends.
Ramesh draws a bill on Suresh. Ramesh endorsed the bill to Mukesh. The payee of the bill will be:
In India, the primary legal framework for Anti-Money Laundering (AML) and Countering Financing of Terrorism (CFT) is provided by _________.
