Class/Course - CA - CPC

Subject - Fundamentals of Accounting

Chapter - Introduction to Partnership Accounts

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Q.1 When partnership deed is not registered a partnership firm is
  Deemed to be an illegal association and is disallowed to carry on business.
  Allowed to carry on business subject to payment of penalty.
  Allowed to carry on business subject to certain disabilities.
  Allowed to carry on business only with the special permission of the registrar of firms.