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Answer in One Sentence Only. Why is a Partnership Deed Prepared? - Book Keeping and Accountancy

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Question

Answer in one sentence only.
Why is a partnership deed prepared?

One Line Answer
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Solution

A partnership deed defines the relationship among the partners. So, it acts as evidence in case of disputes among the partners of a firm. Therefore, it is advised to prepare a partnership deed.

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Chapter 1: Introduction to Partnership - Exercise 1 [Page 13]

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Micheal Vaz Book Keeping and Accountancy [English] 12 Standard HSC Maharashtra State Board
Chapter 1 Introduction to Partnership
Exercise 1 | Q 6 | Page 13
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