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Taxation fund should never be distributed among the old partners at the time of admission of partners.
- a)True
- b)False
- c)Partially true
- d)Can't say
Correct answer is option 'A'. Can you explain this answer?
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Taxation fund should never be distributed among the old partners at th...
Explanation:
Reasons why Taxation fund should never be distributed among the old partners at the time of admission of partners:
- Maintaining fairness: It is important to maintain fairness in partnerships by not distributing the taxation fund among old partners at the time of admission of new partners. This ensures that the new partners do not face any financial disadvantage due to the distribution of funds that they were not part of.
- Legal implications: Distributing the taxation fund among old partners at the time of admission of new partners can have legal implications. It may violate partnership agreements or legal regulations governing partnerships.
- Equitable distribution: The taxation fund should be distributed equitably among all partners based on their contributions and profits. Including new partners in the distribution ensures that they receive their fair share of the fund.
- Preventing conflict: Distributing the taxation fund among old partners only can lead to conflict and resentment among partners. Including new partners in the distribution helps maintain harmony within the partnership.
- Encouraging transparency: By not distributing the taxation fund among old partners at the time of admission of new partners, transparency is encouraged in the partnership. New partners can see how funds are allocated and understand the financial workings of the partnership.
In conclusion, it is important to ensure that the taxation fund is not distributed among old partners at the time of admission of new partners to maintain fairness, legality, equity, harmony, and transparency within the partnership.
Reasons why Taxation fund should never be distributed among the old partners at the time of admission of partners:
- Maintaining fairness: It is important to maintain fairness in partnerships by not distributing the taxation fund among old partners at the time of admission of new partners. This ensures that the new partners do not face any financial disadvantage due to the distribution of funds that they were not part of.
- Legal implications: Distributing the taxation fund among old partners at the time of admission of new partners can have legal implications. It may violate partnership agreements or legal regulations governing partnerships.
- Equitable distribution: The taxation fund should be distributed equitably among all partners based on their contributions and profits. Including new partners in the distribution ensures that they receive their fair share of the fund.
- Preventing conflict: Distributing the taxation fund among old partners only can lead to conflict and resentment among partners. Including new partners in the distribution helps maintain harmony within the partnership.
- Encouraging transparency: By not distributing the taxation fund among old partners at the time of admission of new partners, transparency is encouraged in the partnership. New partners can see how funds are allocated and understand the financial workings of the partnership.
In conclusion, it is important to ensure that the taxation fund is not distributed among old partners at the time of admission of new partners to maintain fairness, legality, equity, harmony, and transparency within the partnership.
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Taxation fund should never be distributed among the old partners at th...
Taxation fund is neither profits nor free reserves, so it is not distributed.
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Taxation fund should never be distributed among the old partners at the time of admission of partners.a)Trueb)Falsec)Partially trued)Cant sayCorrect answer is option 'A'. Can you explain this answer?
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Taxation fund should never be distributed among the old partners at the time of admission of partners.a)Trueb)Falsec)Partially trued)Cant sayCorrect answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Taxation fund should never be distributed among the old partners at the time of admission of partners.a)Trueb)Falsec)Partially trued)Cant sayCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Taxation fund should never be distributed among the old partners at the time of admission of partners.a)Trueb)Falsec)Partially trued)Cant sayCorrect answer is option 'A'. Can you explain this answer?.
Taxation fund should never be distributed among the old partners at the time of admission of partners.a)Trueb)Falsec)Partially trued)Cant sayCorrect answer is option 'A'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Taxation fund should never be distributed among the old partners at the time of admission of partners.a)Trueb)Falsec)Partially trued)Cant sayCorrect answer is option 'A'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Taxation fund should never be distributed among the old partners at the time of admission of partners.a)Trueb)Falsec)Partially trued)Cant sayCorrect answer is option 'A'. Can you explain this answer?.
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