Question

hlo guys



what is partnership deed ???


and it is necessary to all firms
​

Answer 1

Answer:

Partnership deed is an agreement between the partners in which rights, duties, profits shares and other obligations of each partner is mentioned. Partnership deed can be written or oral, although it is always advisable to write a partnership deed to avoid any conflicts in the future.

Answer 2

Answer:

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.