Which of the following properties would belong to the Partnership Firm ........

Indian Partnershoip Act (IPA) 1930 Miscellaneous Provisions

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Which of the following properties would belong to the Partnership Firm?

Property originally brought in the stock of the firm

Property subsequently acquired with the money of the firm

Personal property of the partner when being used in the business of the firm

All of the above

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Explanation:

Section 14 –
14. The property of the firm. 9Subject to contract between the partners, the property of the firm includes all property and rights and interests in property originally brought into the stock of the firm, or acquired, by purchase or otherwise, by or for the firm, or for the purposes and in the course of business of the firm, and includes also the goodwill of the business. Unless the contrary intention appears, property and rights and interests in property acquired with money belonging to the firm are deemed to have been acquired for the firm.