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CMA Intermediate · Business Laws and Ethics · Indian Partnership Act, 1932

Which of the following particulars is required to be stated in the statement filed with the Registrar for registration of a firm?

The statement must give the date when each partner joined the firm. Section 58 lists the firm name, business places, joining dates, partners' names and permanent addresses, and duration. Capital contributions, profit-sharing ratios and turnover are not required particulars of the statement.

  1. AThe capital contributed by each partner
  2. BThe profit-sharing ratio of the partners
  3. CThe date when each partner joined the firmCorrect
  4. DThe turnover of the firm for the preceding year

Explanation

Section 58(1) lists the firm name, principal place of business, other places of business, date when each partner joined, full names and permanent addresses of partners, and the duration of the firm. Capital, profit ratio and turnover are not in the list, so those options are wrong.

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