Q657
A' has lent money to 'P & Q' firm engaged in the cement business and has agreed to take in addition to, or in place of his interest, a portion of the profits of the firm business. It can be said that
A.
A' is a partner as well as a creditor of the 'P & Q' firm
B.
A' is a partner in 'P & Q' firm
C.
A' is not a partner in the 'P & Q' firm
AnswerD.
None of these
Answer: Option C
Solution
Answer: Option C
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