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what is difference between company and firm
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Both are formed by association / group of persons.. But in
case of firm, registration of not necessary whereas company
must be registered / incorporated under Companies Act.
Firm has so many advantages than company in the following
clauses - Capital Clause, Filing forms, Auditing,
directorships.
| Is This Answer Correct ? | 7 Yes | 2 No |
In the absence of any provision in the partnership agreement, profits and losses are shared (a) In the ratio of capitals. (b) Equally. (c) In the ratio of loans given by them to the partnership firm. (d) None of the above.
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