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Explain why it is considered better to make a partnership agreement in writing.

Accountancy accounts
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Discuss the main provisions of the Indian Partnership Act 1932 that are relevant to partnership accounts if there is no partnership deed.

Class 12 Accountancy accounts
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What is meant by partnership? Explain its chief characteristics? Explain.

Class 12 Accountancy accounts
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In the absence of a Partnership deed, specify the rules relating to the following:

Class 12 Accountancy accounts
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If a fixed amount is withdrawn on the first day of every quarter, for what period the interest on the total amount withdrawn will be calculated?

Class 12 Accountancy accounts
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Give two circumstances under which the fixed capitals of partners may change.

Class 12 Accountancy accounts
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Why is Profit and Loss Appropriation Account prepared?

Class 12 Accountancy accounts
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List the items which may be debited or credited in capital accounts of the partners when:

Class 12 Accountancy accounts
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Why it is considered desirable to make the partnership agreement in writing?

Class 12 Accountancy accounts
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Define Partnership Deed.

Class 12 Accountancy accounts
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What is a Receipt and Payment Account? How is it different from Income and Expenditure Account?

Class 12 Accountancy accounts
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Distinguish between Receipts and Payments Account and Income and Expenditure Account.

Class 12 Accountancy accounts
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