Question

In a partnership the maximum number of partners is:
(a) 5 (b) 10
(c) 15 (d) 20

Answer 1

Answer:

Explanation:

As per The Companies Act 1956 maximum number of partners in case of partnerships is 10 for banking business and 20 for other businesses. This has now been changed under The new Companies Act 2013. Under the new act  the maximum number of partners in a partnership must not exceed more than 100 .

Under the new act, private companies can have partners up to 200, which was previously at 50. However public company have no such restrictions on the number of partners. In case of private company the minimum members required is 2 and for public company it stands at 7. whereas for a partnership firm the minimum members required is 2.

Hope this helps.