Distribution of profit and loss – Q & A

1. Define Partnership.

2. Write any "Four" essential elements of partnership.

3. write any four advantages of partnership.

4. how many "Kinds of partners" in partnership business?

5. Define the following?
1. Active partner
2. Sleeping partner
3. Nominal partner

6. Explain partnership deed/agreement.

7. Describe the methods of maintaining capital account in partnership business.

8. What do you mean by capital Ratio?

9. Define goodwill.

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