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Forming a Partnership Deed is :...

Forming a Partnership Deed is :

A

Mandatory

B

Mandatory in Writing

C

Not Mandatory

D

None of the Above

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Content Of Partnership Deed

Give two reasons in favour of having a Parenership Deed.

Knowledge Check

  • In the absence of the Partnership Deed, Interest on Capital

    A
    is allowed @ 6% per annum
    B
    is allowed @ 10% per annum
    C
    is allowed at the borrowing rate
    D
    is not allowed

  • In the absence of Partnership Deed, partners are paid remuneration

    A
    `"@ "Rs 10,000` per partner per month
    B
    `"@ "Rs 20,000` per partner per month
    C
    `"@ "Rs 30,000` per partner per month
    D
    None of the above

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    In the absence of Partnership Deed :

    In the absence of a Partnership Deed, how are mutual relations of partners governed?

    Interest on capital will be paid to the partners if provided for in the partnership deed but only out of :

    X and Y are partners sharing profit and losses in the ratio of 2: 3 with capitals of Rs. 2,00,000 and Rs. 1,00,000 respectively pass the necessary Journal entery or enteries for the distributaion of profits / loss for the year for the year 31st March , 2019 in each of the of the alternative cases : case If PArtnership Deed is silent as to the interest on capital and the profit for the year is Rs. 20,000. Case 2. if partnership Deed provides for interest on capital @ 6% p.a and loss for the year is Rs. 15,000. Case 3. if partnership Deed provides for interest for interest on capital @ 6% p.a and the profit for the the year is Rs. 21,000 . Case 4. if partnership Deed provides for interest for interest on capital @ 6% p.a as a charge on on profit and the profit for the year is Rs. 20,000. Case 5. if partnership Deed provides for interest on capital @ 6% p.a as a charge on profit and th profit for the year is Rs. 2,000 Case 6. if partners Deed provides for interest o capital @ 6% p.a as a charge on profit and th profit for the year is Rs. 18.000.

    Nature Of Partnership

    Partnership Deed is also called ………..

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