Assertion (A): Each partner carrying on the business of the firm is the principal as well as the agent for all the other partners of the firm. Reason (R): There exists a relationship of mutual agency between all the partners. Choose the correct option from the following: A). Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A). B). Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the correct explanation of Assertion (A). C). Assertion (A) is correct, but Reason (R) is incorrect. D). Assertion (A) is incorrect, but Reason (R) is correct.

The correct answer is Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A).. (A) Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A).

Home

Designed for school students & undergraduate entrance aspirants preparing for board exams, NEET, JEE and more.

JEE (Mains & Adv)NEET (UG)CBSE Board ISC Board UP Board CUET

Built for graduates & professionals targeting competitive exams — UPSC, CAT, GMAT, GRE, IELTS, banking & more.

GRE GMAT CAT UPSC IBPS IELTS TOEFL SAT ACT

Core school & undergraduate subjects aligned with CBSE, ISC, UP Board, NEET and JEE syllabi.

Physics Chemistry Mathematics Biology Accountancy Business Studies Economics English Core English (ISC)Computer Science Informatics Practices

Subjects tailored for UPSC, CAT, GRE, GMAT, IELTS and banking competitive exams.

English Quantitative Aptitude General Studies Current Affairs Logical Reasoning Verbal Reasoning Data Interpretation Integrated Reasoning Computer Knowledge Essay Writing

Practice Mock Tests Resources

Accountancy > Accounting For Partnership Firms > Fundamentals Of Partnership

Success Rate: 0%

Single Question

Assertion (A): Each partner carrying on the business of the firm is the principal as well as the agent for all the other partners of the firm. Reason (R): There exists a relationship of mutual agency between all the partners.

Choose the correct option from the following:

Keep Practicing

All QuestionsBrowse all subjects Accountancy QuestionsSubject practice Fundamentals Of PartnershipTopic practice

Current Question

Attempts0/3

StatusNot Answered

Ready to Answer! 🚀

Community Stats

Active Learners30

Questions Attempted597

Community Success Rate70%

Track Your Progress

Edvaya Target

Practice Questions & Mock Tests

Improve your problem-solving skills with our extensive collection of practice questions including PYQs, NCERT Textbooks, NCERT Exemplars and Mock Tests. Get instant feedback and detailed solutions to enhance your preparation.

We Value Your Privacy

Edvaya uses cookies to enhance your learning experience, analyze platform usage, and provide personalized content. You can customize your preferences or accept all cookies to continue.

By continuing, you agree to our Cookie Policy and Privacy Policy

Edvaya Target

Edvaya Aspire

Take a Free Mock Test

Target Subjects

Aspire Subjects

Subject Mastery

Accountancy > Accounting For Partnership Firms > Fundamentals Of Partnership

Keep Practicing

Current Question

Community Stats

Track Your Progress

Edvaya Target

We Value Your Privacy