Vinita, Bhavana, Rani and Nandini are all good friends in the age group of 15-17 years of age. All of them decided together to start a business venture of making soaps at home using natural ingredients. They decided to name their venture as ‘O&HM’ meaning Organic and Home Made. They spoke about their venture to their parents and asked them if their business could be registered so that it will be easy to divide the profits. Vinita suggested that they should register it as a Partnership firm. Can they form a partnership firm? A. No, they cannot form a partnership firm since all of them are minors B. Yes, they can form a partnership firm C. No, since minimum number of people required to form a partnership is 10 D. None of the above

Vinita, Bhavana, Rani and Nandini are all good friends in the age grou

1.	Vinita, Bhavana, Rani and Nandini are all good friends in the age group of 15-17 years of age. All of them decided together to start a business venture of making soaps at home using natural ingredients. They decided to name their venture as ‘O&HM’ meaning Organic and Home Made. They spoke about their venture to their parents and asked them if their business could be registered so that it will be easy to divide the profits. Vinita suggested that they should register it as a Partnership firm. Can they form a partnership firm? A. No, they cannot form a partnership firm since all of them are minors B. Yes, they can form a partnership firm C. No, since minimum number of people required to form a partnership is 10 D. None of the above
Answer» A. No, they cannot form a partnership firm since all of them are minors

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