What is partnership

1. MeraSkill.com Online preparation for CA CPT,CS & CMA Foundation exam
What is Partnership
MeraSkill.com Online preparation for CA CPT,CS & CMA Foundation exam

2. MeraSkill.com Online preparation for CA CPT,CS & CMA Foundation exam
What is Partnership?

3. MeraSkill.com Online preparation for CA CPT,CS & CMA Foundation exam
Is it a Partnership?
1. A & B are joint owners of House which is given on rent of ₹ 10000 p.m
Which is shared by both.
2. A,B & C are members of a HUF which is into the business of textiles. The
profit is shared equally.
3. A of Pune has appointed B of Jaipur to sell his goods in Jaipur. Wherein the
profit will be distributed in the ratio of 2:1
4. A,B & C run a CA Firm wherein A takes care of Audit,B takes care of Tax and
C off finance. Profit is shared equally.

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Is it a Partnership?
5. A & B run a recreation house for elderly people. On subscription basis. This
Subscription is utilised for getting in more equipment for recreation
activities and giving better facilities to the members.
6. A owns a Jeep and B drives it on commercial basis. The income after
deducting the expenses is shared by them equally.
7. A & B owns a plot of land on which they have constructed a Gurudwara
,whatever donations are received are utilised for conducting langar
services for poor.
8. A& B are in the business of manufacturing and selling shoes the profit is
shared in the ratio 3:1.However A shall bear all the losses.

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Definition
• (Section 4)
“Partnership is the relation between persons
who have agreed
to share the profits
of a business
carried on by all
or any one of them acting for all”

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