Alim and Methew made a serious discussion about the possibilities of s

1.	Alim and Methew made a serious discussion about the possibilities of starting a bakery shop as a partnership firm. Alim pointed out several peculiar features that their business should have. Mathew insisted for a written partnership deed and put forward. some contents to be included in it. Imagine their discussion:(a) Write two points raised by Alim. (b) Justify Mathew’s argument.
Answer» (a) 1) Partnership is the relation between two or more persons. 2) Partnership are governed by Indian Partnership Act, 1932. (b) Partnership deed is a written document containing the rules and regulations regarding the conduct of business. It contains. Name and address of the firm Names and addresses of partners Duration of Partnership Nature of business Salary, commission etc. payable to partners Profit-sharing ratio

Alim and Methew made a serious discussion about the possibilities of starting a bakery shop as a partnership firm. Alim pointed out several peculiar features that their business should have. Mathew insisted for a written partnership deed and put forward. some contents to be included in it. Imagine their discussion:(a) Write two points raised by Alim. (b) Justify Mathew’s argument.

Answer»

(a)

1) Partnership is the relation between two or more persons.

2) Partnership are governed by Indian Partnership Act, 1932.

(b) Partnership deed is a written document containing the rules and regulations regarding the conduct of business. It contains.