Question : Following are essential elements of a partnership firm except :-
Option 1: Atleast two persons
Option 2: There is an agreemenrt between all partners
Option 3: Equal share of profit and losses
Option 4: partnership agreement is for some business
Answer (1)
24th Jan, 2024
Correct Answer: Equal share of profit and losses
Solution :
Out of the given options, equal sharing of profit and losses is not the essential characteristic of a partnership firm.
Hence, the correct option is 3.
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