Update

Muft Shiksha™ एक 100% Free Education Portal है 🇮🇳, जिसका उद्देश्य Class 9–12 के हर विद्यार्थी तक High-Quality Education को पूरी तरह मुफ्त पहुँचाना है। 🇮🇳 हम मानते हैं कि अच्छी शिक्षा किसी student की आर्थिक स्थिति पर निर्भर नहीं होनी चाहिए। 🇮🇳 हर विद्यार्थी को वही Quality Study Material, MCQs, Quizzes, Exam Preparation, Concept-Based Learning और Bilingual Support मिलना चाहिए, जो आमतौर पर महंगी Coaching या Premium Platforms में मिलता है। Muft Shiksha™ 🇮🇳 इसी सोच के साथ बनाया गया है

Subjects
0 reads0 ratings0 helpful

The deed says the firm’s bank account will operate only with the joint signatures of A and B. What is the risk if A withdraws alone?

Answer and explanation

Correct answer: Breach of the deed and unauthorised withdrawal

The governing concept is internal authority and control under a partnership deed or banking mandate. A joint-signature condition means that both specified partners must authorise a withdrawal before the firm’s funds are used. If A withdraws money alone, the transaction can breach the agreed deed condition and may be treated as an unauthorised withdrawal, depending on the bank mandate and applicable law. It may also create an internal liability or dispute between the partners. Such an act cannot automatically increase profit, cancel interest on a loan, or equalise capital balances. Those alternatives have no logical connection with the signing requirement. Therefore option A is correct.

Related tags

Partnership DeedJoint SignaturesBanking ControlUnauthorised WithdrawalPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

Was this question useful?

No ratings yetWrite a review / Rate this question

Student Reviews

No published reviews yet.

Add Muft Shiksha to your Home Screen

In Safari, tap Share, then Add to Home Screen.