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There are two statements… (Accountancy 2026 67/1/1 Q2)

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AccountancyCBSE Class 12 · Board exam 2026, set 67/1/1 · 1 mark · Assertion-reason

CBSE Class 12 Accountancy 2026: question 2

Set in the CBSE Class 12 board exam of 2026, paper 67/1/1, section A, question 2, for 1 mark. Try it first; the hints and our step-by-step solution are below.

Q2 · 1 mark · Assertion-reasonCompetency-basedAccounting for Partnership: Basic Concepts

There are two statements Assertion (A) and Reason (R) :

Assertion (A) : Partnership Agreement becomes the basis of relationship among the partners.

Reason (R) : Partnership is the result of an agreement between two or more persons to do business and share its profits and losses.

Choose the correct option from the following :

  1. (A)Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A).
  2. (B)Both Assertion (A) and Reason (R) are correct, but Reason (R) is not the correct explanation of Assertion (A).
  3. (C)Assertion (A) is correct, but Reason (R) is incorrect.
  4. (D)Assertion (A) is incorrect, but Reason (R) is correct.

Source: official question paper from cbse.gov.in (PDF). See it in the full 2026 board paper, set 67/1/1.

Hints

Open one hint at a time and try again before the next.

Hint 1

How does a partnership come into existence?

Hint 2

Does that explain why the agreement governs the partners?

Step-by-step solution

Each step shows the marks it earns, as an examiner would award them. Checked by an independent re-solve from the question paper.

  1. A partnership arises from an agreement among persons to carry on business and share its profits and losses.

  2. Because the relationship itself is created by agreement, that agreement (the deed) becomes the basis of the partners' relationship. Both are true and R explains A. Option (A).

    1 mark

Answer: (A) Both A and R are correct and R is the correct explanation of A

Where the marks are

  • Recognises agreement as the basis of partnership (1 mark)

Revise the chapter

Practise this chapterBoard-style questions from Accounting for Partnership: Basic Concepts, one at a time, marked against the answer key and marking points.Back to the full paper2026 board paper, set 67/1/1: every question, by section.

The question is transcribed from the official paper; figures are described in words. The solution, hints and chapter tag are ours. Spotted an error? Write tosupport@questionbuddy.in.