The partnership books shall be kept, subject to any agreement between the partners, at the principal place of business of the partnership, and every partner shall at any reasonable hour have access to and may inspect and copy any of them.Group of answer choicesTrueFalse

Every partner must account to the partnership for any benefit, and hold as trustee for it any profits derived by him or her without the consent of the other partners from any transaction connected with the formation, conduct, or liquidation of the partnership or from any use by him or her of its property.Group of answer choicesTrueFalse

The  document  that  states  all  the  terms  of  partnership  is  known  as

fundamentals of partnership

Which of the following is a right of a partner?(a) sharing profits and losses with other partners in the agreed ratio(b) inspecting and having a copy of the books of accounts(c) retiring from the firm without giving proper notice(d) taking part in the misconduct of the businessChoose the correct option:(i) Only (b) and (c)(ii) Only (c)(iii) Only (a) and (b)(iv) Only (a) and (d)

Each partner has the authority to enter into contracts which are binding upon the partnershipGroup of answer choicesTrueFalse