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प्रश्न
What is the meaning of Partnership Deed?
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उत्तर
Through a partnership agreement need not necessarily be in writing, it is important to have a written agreement in order to avoid misunderstandings; it is desirable to have a written agreement. A carefully drafted partnership deed helps in ironing out differences that may develop among partners and in ensuring the smooth running of the partnership business. It should be properly stamped and registered.
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संबंधित प्रश्न
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.
State whether the following statement is True or False with reasons.
If the partnership deed is silent, partners share profits and losses in proportion to their capital.
Choose the Correct Answer.
The partnership deed also called ______
If the partnership deed is silent about the profit-sharing ratio, the profits and losses of the firm are to be shared in which ratio?
Partners share profit & losses in ______ ratio in the absense of partnership deed.
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.
Answer in one sentence only:
What is Partnership Deed?
Richa and Anmol are partners sharing profits in the ratio of 3:2 with capitals of ₹ 2,50,000 and ₹ 1,50,000 respectively. Interest on capital is agreed @ 6% p.a. Anmol is to be allowed an annual salary of 12,500. During the year ended 31st March 2023, the profits of the year prior to calculation of interest on capital but after charging Anmol’s salary amounted to ₹ 62,000. A provision of 5% of this profit is to be made in respect of manager’s commission.
Following is their Profit & Loss Appropriation Account
| Particulars | (₹) | Particulars | (₹) |
| To Interest on Capital | By Profit & loss account (After manager’s commission) | -(2)- | |
| Richa | ______ | ||
| Anmol | ______ | ||
| To Anmol’s Salary a/c | 12,500 | ||
| To Profit transferred to: Richa’s Capital A/C (1) | -(1)- | ||
| Anmol’s Capital A/c | ______ | ||
| ______ | ______ |
The amount to be reflected in blank (2) will be:
