Advertisements
Advertisements
प्रश्न
Why it is considered desirable to make the partnership agreement in writing.
उत्तर
Partnership agreement may be oral or written. It is not compulsory to form partnership agreement in writing under the Partnership Act, 1932. However, written partnership deed is desirable than oral agreement as it helps in avoiding disputes and misunderstandings among the partners. Also, it helps in settling disputes (as the case may be) among the partners, as written partnership deed can be referred to anytime. If written partnership deed is duly signed and registered under Partnership Act, then it can be used as evidence in the court of law.
APPEARS IN
संबंधित प्रश्न
Explain why it is considered better to make a partnership agreement in writing.
How will you deal with a change in the profit sharing ratio among existing partners?
Take imaginary figures to illustrate your answer?
Azad and Benny are equal partners. Their capitals are Rs 40,000 and Rs 80,000, respectively.After the accounts for the year have been prepared it is discovered that interest at 5% p.a. as provided in the partnership agreement, has not been credited to the capital accounts before distribution of profits. It is decided to make an adjustment entry at the beginning of the next year. Record the necessary journal entry.
What is partnership? What are its chief characteristics? Explain.
Choose the appropriate alternative from the given options:
Mohit and Rohit were partners in a firm with capitals of ₹ 80,000 and ₹ 40,000 respectively. The firm earned a profit of ₹ 30,000 during the year. Mohit's share in the profit will be:
A and B are partners in the ratio of 3:2. C is admitted as a partner and he takes ¼th of his share from A. B gives 3/16 from his share to C. What is the share of C?
According to which Section of the Indian Partnership Act 1932 partnership is defined as the 'relation between persons who have agreed to share the profits of a business carried on by all or any of them acting for all'?
What are the essential features of partnership are ______?
The persons who have entered into partnership are individually known as ______.
Following are essential elements of a partnership firm except:
The minimum number of partners allowed to open a partnership firm ______
The Agreement of Partnership may be:
The maximum number of partners allowed in a partnership firm are ______.
A joint stock company is ______.
Ram and Shyam are equal partners in a partnership. They decided to change their ratio as 2 : 1. On that date, general reserve appeared in the books as ₹ 30,000. What amount of reserve will be transferred to Shyam's Capital Account?
What is partnership?
