Question:
Partnership Account was enforced in
Partnership Account was enforced in
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The Partnership Act of 1932 regulates the accounting and operational practices of partnerships in India.
Updated On: Oct 6, 2025
- 1956
- 1948
- 1932
- 1950
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The Correct Option is C
Solution and Explanation
Step 1: Understanding Partnership Account.
The Partnership Act that governs partnership accounts was enforced in 1932 in India. It provides the legal framework for how partnerships should operate, including their financial accounts.
Step 2: Analyzing the options.
- (A) 1956: This is incorrect. The Partnership Act was enforced much earlier.
- (B) 1948: This is incorrect. The Partnership Act came into effect in 1932.
- (C) 1932: This is correct. The Partnership Act was enforced in 1932, which regulated partnership accounting practices.
- (D) 1950: This is incorrect. The Partnership Act was not enforced in 1950.
Step 3: Conclusion.
The correct answer is (C) 1932, as the Partnership Act was enforced in that year.
Final Answer: The correct answer is (C) 1932.
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