In the absence of agreement to the contrary, when shall the right to an account of his interest accrue to any partner, or his legal representative as against the winding up partners or the surviving partners or the person or partnership continuing the business? * At the date of the start of operation of the new business At the date of dissolution 3 months from the date of dissolution 1 month from the date of dissolution
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is 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, drawings of a partner, etc.
In the absence of agreement to the contrary, when shall the right to an account of his interest accrue to any partner, or his legal representative as against the winding up partners or the surviving partners or the person or partnership continuing the business? *
At the date of the start of operation of the new business
At the date of dissolution
3 months from the date of dissolution
1 month from the date of dissolution
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