GLO_CWM_LVL_1 practice question 26 of 35
If after the partition of an HUF 2 members became partners in 3 firms on behalf of their respective HUFs and they also become partners in a fourth…
Choose your answer, then check it against the explanation.
If after the partition of an HUF 2 members became partners in 3 firms on behalf of their respective
HUFs and they also become partners in a fourth firm. The funds were obtained by means of loans
from the other 3 firms. The share incomes of the members from the fourth firm were assessable as
their individual income only.
Question 26 of 35
Keep practicing
Take the free GLO_CWM_LVL_1 practice test
Ten exam-style questions with answers and explanations, plus the exam facts and study guides.
More questions
Other GLO_CWM_LVL_1 practice questions
- Question 1Under the Provisions of Transfer, of Property Act, the unborn child acquires vested inter…
- Question 2Identify the stage in the money laundering process where funds are being constantly moved…
- Question 4Mixed economy refers to.....
- Question 5The facility of mini-statement is available to customers __________
- Question 6What do you mean by Caveat Emptor?
- Question 7The effect of money laundering on the financial system is to: