Question

Q.26 Some friends joined together and set up a Partnership Firm, the objective was to
do a Non-banking Trade. The Firm applied to a bank for loan. The speciality of the
loan was that the bank granted the right to withdraw a certain amount in exchange for a
surety. Within this limit the person who has taken loan continues to withdraw money. Also
he deposits money. The bank takes interest only on the money actually withdrawn. Only a
few days had gone by when the firm had began its business, the employees started
stealing goods and money. In order to protect themselves from this risk in future, the
company contacted an Insurance Co. and got itself insured. After about one year, the Firm
caught speed in its business.
(a) How many partners can possibly be there in the above stated partnership?
(b) Point out the name of the loan taken by the Firm from the bank.
(c) What is the main category of the risk which arose soon after the beginning of the firm?
(d) What is the name of the insurance taken by the firm.​

Answer 1

Answer:

(C). what is the main category of the risk which arose soon after the beginning of the firm?

Answer 2

Explanation:

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