Question

What is partnership deed ? (2marks)

Answer 1

hello mate❤

partnership deed is an agreement between the partners of a firm that outlines the term and conditions of partnership among the partners.

hope it helps you..✌✌

Answer 2

$\huge \underline \bold {Question}$

What is partnership deed?? (2 marks)

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Partnership deed is a written legal document which consists of agreement between two individuals who starts business together and share profits and losses together. Partnership deed is also called partnership agreement. (2 marks)

• It regulates the rights, duties, and liabilities of each partner.
• It helps to avoid any misunderstanding amongst the partners because all the terms and conditions of the partnership have been laid down beforehand in the deed.

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• The name of the firm.
• Name and details of all partners.
• Date of commencement of business.
• Duration of the firm's existence.
• Capital contributed by each partner.
• Profit/loss sharing ratio.
• Interest on capital payable to partners.
• The extent of borrowings each partner can draw

❤❤❤Hope it helps you ❤❤❤

Answer-By@Amani11