Question

Write short note on partnership deed? List any four contents

Answer 1

Answer:

Contents of Partnership Deeds

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.

Answer 2

Answer:

Explanation:

deed

1. A partnership deed is an agreement between the partners of a firm that outlines the terms and conditions of partnership among the partners.  It specifies the various terms such as profit/loss sharing, salary, interest on capital, drawings, admission of a new partner

contents

• 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