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Mark the incorrect statement:
What is partnership property mainly depends on the agreement between partners.
Where a property is purchased with the money of the firm and in the name of the firm, it creates the strongest presumption that it is a property of the firm.
A land purchased with the partnership money but in a partner's name is not a partnership property.
If two brothers jointly inherit a house and thereafter set up a business in the house in partnership, it could not be inferred that they were intending to transfer their shares in the house to the partnership business.
By: santosh ProfileResourcesReport error
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