Nature of Partnership
Nature of Partnership: Overview
This topic covers concepts such as, Nature of Partnership etc.
Important Questions on Nature of Partnership
What is the maximum number of partners allowed in a banking partnership firm in India?
Which document is essential to define the terms and conditions of a partnership?
In a partnership, the liability of partners is:
Which act governs the formation and regulation of partnership firms in India?
What is the minimum number of partners required to form a partnership firm?
How are profits appropriated and adjustments made based on the capital ratio, partner’s salaries, and interest on capital?
How should profits be divided in the absence of a Partnership Deed, considering factors such as interest on loans?
How should disputes between partners with differing claims on interest rates, profit distribution, and remuneration be settled?
What is the appropriate method for preparing partners' capital accounts when assuming fluctuating capital accounts?
Which of the following describes the calculation of a partner's capital/current accounts when the capitals are fixed?
How should changes in the profit-sharing ratio among existing partners be dealt with? Use imaginary figures to illustrate your answer.
How is interest on drawings calculated under various situations?
Why is it considered better to make a partnership agreement in writing?
What are the main provisions of the Indian Partnership Act 1932 that are relevant to partnership accounts if there is no partnership deed?
What are the chief characteristics of a partnership?
What is meant by partnership?
In the absence of a Partnership Deed, what is the rule relating to salary to a partner?
In the absence of a Partnership Deed, what is the rule relating to the interest on partner’s loans?
In the absence of a Partnership Deed, what is the rule relating to the interest on partner’s drawings?
In the absence of a Partnership Deed, what is the rule relating to the interest on partner’s capital?
