Question

contents of a pantnership deed​

Answer 1

• The name of the firm
• Name and details of all partners
• Date of commencement of business
• Duration of the firm’s existence
• Capital contributed by each partner
• Profit/loss sharing ratio
• Interest on capital payable to partners
• The extent of borrowings each partner can draw
• Salary payable to partners, if any
• The procedure of admission or retirement of a partner

Explanation:

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