(i) Damage
(ii) Breach of terms of agreement of partnership
(iii) Damaged
(iv) Agreement to share profits from business of firm
Codes :
Sequence of Partnership Concepts
The question asks to arrange the given concepts related to a partnership agreement in the order they logically appear or are established.
- Concept (iv): Agreement to share profits from business of firm - This represents the foundational step, the formation of the partnership agreement itself.
- Concept (ii): Breach of terms of agreement of partnership - This occurs after an agreement is in place, when its stipulated terms are violated.
- Concept (i): Damage - This refers to the harm or loss resulting from the breach of the agreement.
- Concept (iii): Damaged - This describes the state of being harmed or injured, the consequence of the damage.
Correct Sequence Determination
Based on the logical progression:
- First, there must be an agreement (iv).
- Then, the terms of this agreement can be breached (ii).
- A breach typically leads to damage (i).
- The result of this damage is that something becomes damaged (iii).
Therefore, the correct sequence is (iv), (ii), (i), (iii).
Final Answer Sequence
The concepts arranged in the order they appeared are:
- (iv) Agreement to share profits from business of firm
- (ii) Breach of terms of agreement of partnership
- (i) Damage
- (iii) Damaged
This corresponds to Option 2: (iv), (ii), (i), (iii).
Important Questions from Partnership Act, 1932
- Which of the following provision of the Partnership Act explains the evidentiary value of entries in the Register of Firms?
- Which of the following is correct?
The important provision affecting partnership accounting, in the absence of a partnership deed is: - Atul, Bharat, and Chetan enter into a partnership. Atul invests $₹25,000$ for 6 months, Bharat invests $₹30,000$ for 8 months, and Chetan invests $₹40,000$ for 9 months. If the total profit is $₹37,000$, what is Chetan's share of the profit?
As per Section 45 of the Indian Partnership Act, 1932, notwithstanding the dissolution of a firm, the partners continue to be liable as such to third parties for any act done by any of them which would have been an act of the firm if done before the dissolution, until:
As per Section 6 of the Indian Partnership Act, 1932, in determining whether a group of persons is or is not a firm, regard shall be had to which of the following?
