A.What is partnership accounts and what are the necessary components of partnership accounts that a company should consider when preparing partnership accounts and why?
A.What is partnership accounts and what are the necessary components of partnership accounts that a company should consider when preparing partnership accounts and why?
A.What is partnership accounts and what are the necessary components of partnership accounts that a company should consider when preparing partnership accounts and why?
A.What is partnership accounts and what are the necessary components of partnership accounts that a company should consider when preparing partnership accounts and why? B. How can you differentiate the company’s accounts from partnership accounts and on what grounds?
Definition Definition Arrangement between two or more people whereby they agree to manage business operations and share its profits and losses in an agreed ratio. The agreement drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, and drawings of a partner.
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