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Standard XI
Business Studies
Partnership
Question

Which of the following statement is incorrect?

A
A person who received the profits is always partner
B
The true test of partnership is the mutual agency i.e., agency relationship among partners
C
The partnership comes into existence only by an agreement
D
A person who receives the profits is not necessarily a partner
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Solution
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Correct option is B. A person who received the profits is always partner

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