Teaching UGC NET Mock Test Series 2025 (Paper 1 & 2) Law Officer Definition, Meaning and Nature of Partnership Indian Partnership Act, 1932
Which one of the following statements is True' in partnership?
1
In the absence of any provision in the partnership deed, only a working partner is entitled to remuneration.
2
Any firm which earns normal profit has no goodwill.
3
The business of the firm must be carried on by all the partners.
4
Interest on loan given by a partner to the firm shall be paid if there are profits.