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Title: partnership
Description: it can be used by commerce stream students, it is just a introductory part of partnership
Description: it can be used by commerce stream students, it is just a introductory part of partnership
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aCCountinG for partnership
usefuL for puC,BCoM,Ca&Cs students
presented BY:
anita arWade
M
...
s)
Contents
Partnership
Partnership features
Partnership Deed
Contents of Partnership Deed
partnership
Meaning- It is an association of two or more
persons who have agreed to carry on a joint business with
the object of sharing the profits
...
”
partnership features
Two or more persons – Minimum number of partners
is 2 & Maximum number of partners in case of
banking business is 10 & for other business is 20
...
Lawful business – As per Law there must be a legal
business
...
Unlimited liability – All the partners of the firm are
liable to pay unlimited liability
...
It is also called Articles of Partnership
...
It is not compulsory to have a written agreement
...
partnership deed – Contents
Name and address of the firm
Name and address of the partners
Duration or period of the firm
Nature of the business
Amount of capital to be contributed by each partners
...
Rate of interest, if any to be allowed on partners’ capital
...
Rate of interest, if any, to be allowed on partners’ loans to
firm
Title: partnership
Description: it can be used by commerce stream students, it is just a introductory part of partnership
Description: it can be used by commerce stream students, it is just a introductory part of partnership