Option (1) is correct: U/s 30 of Indian Partnership Act, if a minor elects to becomes partner after attaining majority, he will be liable for the debts of the firm from the date of admission as a minor partner.

Option (2) is correct: It is not an obligation for the company to distribute profits among the shareholders.

Option (1) is incorrect: Registration is optional for partnership. Option (2) is incorrect: A partnership may come into existence without writing partnership deed. Option (3) is correct: Mutual agency is required to determine the partnership. Mutual agency is the legal relationship between partners in a partnership, where each partner has authorisation powers and the ability to enter the partnership into business contracts. Option (4) is incorrect: Partnership is not a separate legal entity from its partners.

Option (2) is correct: A minor cannot inspect and copy any book except account books.

Option (1) is correct: Express contracts are the contracts in which all the elements of contract are clearly written and implied contracts are the contracts in which circumstances cause contract, but nothing in written.

Option (4) is correct: In all the above conditions, a partner may be expelled from partnership.

Option (2) is correct: A person can be held liable for the acts only after he becomes a partner.

Option (2) is correct: According to the Indian Partnership Act, 1932, the number of partners in any business should not be more than 20.

Option (1) is correct: U/s 12 of the act, every partner has the right to take part in the business of the firm, but they cannot use firm's property for personal use and cannot share exclusive profits.

Option (2) is correct: Registration of firm is not compulsory, but in case a firm is not registered, it cannot avail the benefits provided under registration.

Option (3) is correct: A partner can retire from the firm according to the partnership deed.

Option (4) is correct: Leaving of firm by insolvent partner doesn’t result into dissolution of firm.

Option (3) is correct: On dissolution, the partners remain liable till a public notice is given by the outgoing partner or by the firm.

Option (1) is correct: If any person wants to be partner of a firm, consent of all the partners is a must under section 31 of the act.

Option (1) is correct: If any partner dies, it results in dissolution of the firm.