25.) Explain registration process of Partnership firm.
26.) Hina started a small sweet shop in Delhi under the name Mithai
Wala. Over the year, her business grew manifold by the word of
month. Recently she procured a big export order. Although the
exporter has promised to make some advance payments, but Hina
Answers
Answer:
25) Application to the Registrar of Firms in the prescribed form (Form A). Nowadays this facility is even available online. Such an application must contain certain basic details about the firm such as,
Name of the Partnership Firm
Name and address of all partners
Place of business (address of main and branch offices)
Duration of the partnership
Date of joining of partners
Date of commencement of business
2] The duly signed copy of the Partnership Deed (which contains all the terms and conditions) must be filled with the registrar
3] Deposit/pay the necessary fees and stamp duties
4] Once the registrar approves the application, the firm will be entered into the records. And the registrar will also issue a certificate of incorporation.
26)
I. Two sources suggested are
1. Trade Credit
2. Loan from commercial bank
II. Merits of Trade Credit.
Merits of Commercial Bank
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