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What document outlines the rules, roles, profit-sharing and terms between partners in a partnership firm?

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Question

What document outlines the rules, roles, profit-sharing, and terms between partners in a partnership firm?

Options

  • Partnership deed

  • Memorandum of Association

  • Certificate of Incorporation

  • Share certificate

MCQ
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Solution

Partnership deed

Explanation:

A partnership deed is a written agreement that describes the rights and duties of partners.

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