In the absence of Partnership deed, partners share profits and losses :-

Which of the following is not included in the Contents of the Partnership Deed-

The liability of partners is

Yadu, Madhu and Vidu are partners, sharing profit and losses in the ratio of 2:2:1. Their fixed capitals on April 01,2018 were:

Yadu Rs. 5,00,000, Madhu Rs. 4,00,000 and Vidu is 3,50,000. As per a partnership deed, partners are entitled to interest on capital of @5% p.a. and Yadu has to be paid a salary of Rs. 2000 per month. The net loss of the firm as per profit and loss account for the year ending March 31, 2019, amounted to Rs. 75,000. On the basis of the profit and loss appropriation account, Partners' distribution of loss would be:

Identify which of the following is not related to the concept of "MUTUAL AGENCY"?

Select the correct options from the following in case there is no partnership deed:

A. Profit and losses of the firm are shared equally.

B. Interest on capital is to be paid at the rate of 6 percent per annum.

C. Interest on the partner's loan is to be paid at the rate of 6 percent per annum.

D. No interest is to be charged on the drawings made by the partners.

Choose the correct answer from the options given below:

The following are the modes of reconstitution of a partnership firm

(A) Death of a partner

(B) Dissolution of the firm by notice

(C) Change in the profit sharing ratio among existing partners

(D) Admission of a new partner

Choose the correct answer from the options given below: