Question

the relation of partners with the firm is that of: (a) an owner (b) an agent (c) an owner and an agent (d) manager​

Answer 1

Answer:

Partner = Part + Owner so (a) is right ans..

they act as principal or agent in relation to another partner but not of firm because there is no concept of seperate legal entity in case of partnership.

Answer 2

Option C is the correct answer.

The relation of partners with the firm is that of an owner and an agent.

Partnership is an agreement done between two person who agree to share profit and losse of the firm.

As all the partners act as an agent for the firm and runs the business as a owner .

As all the partners take decisions of the firm as a owner and they represent their firm as a agent,

So, partners are agent as well as onwer of the firm and their relation with the firm is same.