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Question
Partners share profit & losses in ______ ratio in the absense of partnership deed.
Solution
Partners share profit & losses in equal ratio in the absense of partnership deed.
RELATED QUESTIONS
In the absence of partnership deed, specify the rules relating to the following:
(i) Sharing of profits and losses.
(ii) Interest on partner’s capital.
(iii) Interest on Partner’s drawings.
(iv) Interest on Partner’s loan
(v) Salary to a partner.
In the absence of partnership deed, specify the rules relating to the following:
(i) Sharing of profits and losses.
(ii) Interest on partner’s capital.
(iii) Interest on Partner’s drawings.
(iv) Interest on Partner’s loan
(v) Salary to a partner.
Answer in one sentence only.
Why is Partnership Deed necessary?
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Choose the Correct Answer.
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Choose the Correct Answer.
The partnership deed also called ______
In the absence of partnership deed, a partner is entitled to an interest on the amount of additional capital advanced by him to the firm at a rate of ______.
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The document which contains the terms of the agreement of partnership is called ______.
What are the contents of the partnership deed?
Mohan and Sham are partners in a firm. State whether the claim is valid if the partnership agreement is silent in the following matters:
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Mohan and Sham are partners in a firm. State whether the claim is valid if the partnership agreement is silent in the following matters:
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In the absence of Partnership Deed, the profits of a firm are divided among the partners:
Assertion (A): A new partner can be admitted into a partnership firm with the consent of all the existing partners.
Reason (R): According to Section 31 of the Indian Partnership Act, 1932, a new partner shall not be introduced into a firm without the consent of all the existing partners, unless it is agreed otherwise by the partners in the partnership deed.
Partnership deed is silent in respect of sharing of profits and losses; in this case what will be the ratio in which profits and loss to be shared?
Which of the following is ont considered a tool for formative assessment?
The branch of economics that deals with the allocation of resources.
- Micro economics
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- Econometrics
- None of these
Assertion: The SI system of units is the suitable system for measurements.
Reason: The SI unit of temperature is kelvin.
Which one of the following is correctly matched?
Write the word/phrase/term, which can substitute the following sentences.
Partnership agreement in written form.
Partners share profit & losses in ______ ratio in the absense of partnership deed.
Complete the Correlation:
Perfect competition : Free entry and exit :: ______ Barriers to entry.
Do you agree/disagree with the following statements.
It is compulsory to have a partnership agreement in writing.
When there is no partnership agreement between partners, the division of Profits takes place in ______ ratio.
Partners share profit & losses in ______ ratio in the absense of partnership deed.
