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What is the significance of the Partnership Deed in a partnership firm?
  • a)
    It determines the number of partners in the firm
  • b)
    It outlines the division of tasks and responsibilities
  • c)
    It specifies the firm's business address
  • d)
    It determines the profit-sharing ratio among partners
Correct answer is option 'B'. Can you explain this answer?
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What is the significance of the Partnership Deed in a partnership firm...
The Partnership Deed is a crucial document that outlines the rights, obligations, and responsibilities of each partner in a partnership firm. It includes important details like the nature of business, capital contributions, profit-sharing ratio, division of tasks, and procedures for various scenarios such as retirement or admission of partners.
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What is the significance of the Partnership Deed in a partnership firm?a)It determines the number of partners in the firmb)It outlines the division of tasks and responsibilitiesc)It specifies the firm's business addressd)It determines the profit-sharing ratio among partnersCorrect answer is option 'B'. Can you explain this answer?
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What is the significance of the Partnership Deed in a partnership firm?a)It determines the number of partners in the firmb)It outlines the division of tasks and responsibilitiesc)It specifies the firm's business addressd)It determines the profit-sharing ratio among partnersCorrect answer is option 'B'. Can you explain this answer? for B Com 2024 is part of B Com preparation. The Question and answers have been prepared according to the B Com exam syllabus. Information about What is the significance of the Partnership Deed in a partnership firm?a)It determines the number of partners in the firmb)It outlines the division of tasks and responsibilitiesc)It specifies the firm's business addressd)It determines the profit-sharing ratio among partnersCorrect answer is option 'B'. Can you explain this answer? covers all topics & solutions for B Com 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for What is the significance of the Partnership Deed in a partnership firm?a)It determines the number of partners in the firmb)It outlines the division of tasks and responsibilitiesc)It specifies the firm's business addressd)It determines the profit-sharing ratio among partnersCorrect answer is option 'B'. Can you explain this answer?.
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