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Why is it recommended to have a written partnership deed? - Commercial Applications

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Question

Why is it recommended to have a written partnership deed?

Options

  • It is mandatory for registration under the Companies Act.

  • It serves as a legal record to resolve disputes.

  • It reduces the firm’s tax liability.

  • It ensures limited liability for all partners.

MCQ
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Solution

It serves as a legal record to resolve disputes.

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Chapter 3: Ownership Structures - Partnership - EXERCISES [Page 40]

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C. B. Gupta Commercial Applications [English] Class 9 ICSE
Chapter 3 Ownership Structures - Partnership
EXERCISES | Q I. 17. | Page 40
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