n NISM Certifications
X NISM Series X
Medium

Mr. Joshi contributed his property to a partnership, later resigned and relinquished his rights. What is the nature of this transfer?

Practice question from NISM Series XB- Investment Adviser (Level 2) Mock Test 6 — bank. The correct answer is highlighted below with a full explanation.

Options

  1. A

    Exchange of asset

  2. B

    Sale of asset

  3. C

    Disownment of asset

  4. Relinquishment of asset

    Correct answer

Why this is the answer

Relinquishment involves abandoning rights over an asset, which applies when Mr. Joshi gave up his property rights in favor of the firm upon resignation.

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