A person who declares by word of mouth as partner of the firm is called:

Related MCQs

• An incoming partner pays his share of goodwill in cash, and profit sharing ration of old partner is changed, Goodwill be distributed among old partners:
• If the remaining partner want to continue the business, after the retirement of a partner, a new partnership agreement:
• A person who receives a share of profits from one of the regular partner is called:
• In the absence of an agreement, Interest on loan advanced by the partner to the firm is allowed at the rate of:
• At the time of admission of a new partner the firm is:
• Goodwill of the firm is valued Rs. 30000. C an incoming partner purchase ¼ share of total profit Goodwill be raised in the books.
• If a partner takes over an asset of the firm, his capital account:
• When a partner dies, firm will receive the:
• An account operated to ascertain the loss or gain at the death of a partner is called:
• Any partner who investments in the business but does not take active part in the business is: