Class XII

From the following, what is important for a partnership?
  1. Registration
  2. Sharing of Profits
  3. More than 10 Persons
  4. Capital more than 15 Crore
The persons who have entered into a partnership business with one another are individually called
  1. Firm
  2. Partner
  3. Company
  4. Co-operatives
Partners collectively are called :
  1. Firm’s name
  2. Company
  3. Business
  4. Firm
It is better to have the agreement in writing to avoid any ___
  1. Case
  2. Loss
  3. Dispute
  4. Audit
Below are listed Content of partnership Deed except:
  1. Ratio in which profit or losses shall be share
  2. Name of the firm.
  3. Interest on Debentures
  4. Interest on Partners capital and drawings
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