Define partnership explain about partnership deed
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Define partnership?
A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations.
explain about partnership deed?
Partnership deed is an agreement between the partners of a firm that outlines the terms and conditions of partnership among the partners. ... The partnership deed serves this purpose. It specifies the various terms such as profit/loss sharing, salary, interest on capital, drawings, admission of a new partner, etc.
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