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Question
The partnership deed usually contains______.
The partnership deed usually contains______.
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Solution
The correct option is A All of the above
Partnership comes into existence as a result of agreement among partners. The partnership act does not require the agreement to be in writing, The document which contains terms of agreement is called "Partnership Deed". It usually contains various details such as:1. Name and addresses of the firm and its main business2. Name and addresses of all partners3. Amount of capital to be contributed by each partner4. The accounting period of the firm5. The date of commencement of partnership6. Rules regarding operation of bank accounts, and many more.
Partnership comes into existence as a result of agreement among partners. The partnership act does not require the agreement to be in writing, The document which contains terms of agreement is called "Partnership Deed". It usually contains various details such as:
1. Name and addresses of the firm and its main business
2. Name and addresses of all partners
3. Amount of capital to be contributed by each partner
4. The accounting period of the firm
5. The date of commencement of partnership
6. Rules regarding operation of bank accounts, and many more.
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