Question : Assertion (A): The partnership agreement can be written or oral.
Reason (R): To avoid any misunderstandings or disputes, it is always best to have a written agreement that has been signed and registered under the Act.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is False

Option 4: Both Assertion (A) and Reason (R) are not correct.

Question : Assertion (A): The firm's partners are Amit, Bharat, and Charu. The Partnership Agreement provides that Amit will be paid a salary of 60,000 per year. Bharat and Charu have also requested salaries of 60,000 each. Salaries for Bharat and Charu will be permitted.
Reason (R): In the absence of a Partnership Deed, the Partnership Act of 1932 applies. As a result, Bharat and Charu will not be paid.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is False

Option 4: Assertion (A) is false and Reason (R) is true

Question : Assertion (A):  If the partnership deed does not address the payment of interest, the interest on loans to partners is charged at a rate of 6% per year.
Reason (R): In the absence of Partnership Deed, provisions of the Partnership Act, 1932 apply. Therefore, 6% annual interest should be added to the loan to the partner. If not, interest is permitted at the agreed-upon rate.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)

Option 3: Assertion (A) is true but Reason (R) is False

Option 4: Both Assertion (A) and Reason (R) is not True

Question : Assertion: The National Food for Work Program was started in 2004 with the aim of giving rural communities more chances for self-employment.
Reason: In 2005, the Mahatma Gandhi National Rural Employment Guarantee Act (MGNREGA) included this scheme.

Option 1: Both Assertion (A) and Reason (R) are true and Reason (R) is the correct explanation of Assertion (A)

Option 2: Both Assertion (A) and Reason (R) are true and Reason (R) is not the correct explanation of Assertion (A)

Option 3: Assertion (A) is True but Reason (R) is False

Option 4: Assertion (A) is False but Reason (R) is True

Question : Assertion: The Employee State Insurance (ESI) Act provides social security and health insurance benefits to workers.

Reason: ESI is applicable to establishments with ten or more employees

Option 1: Both assertion and reason are true, and the reason is the correct explanation of the assertion.

Option 2: Both assertion and reason are true, but the reason is not the correct explanation of the assertion.

Option 3: Assertion is true, but the reason is false.

Option 4: Assertion is false, but the reason is true.