Partnership

Accounting

Easy

common

The clauses of partnership deed can be altered with the consent of:

Registrar of the Firms

All the partners

SEBI

Ministry of Corporate Affairs

✅ Correct Option: 2

The partnership deed is an agreement among the partners themselves, so any clause can be changed only by mutual consent of all partners. Neither the Registrar of Firms nor SEBI nor the Ministry of Corporate Affairs has authority over its clauses.

2026: 13 May Shift 1

Aman, Billu and Sonu were partners in a firm sharing profits and losses in the ratio of 2 : 2 : 1. Sonu was guaranteed that her share of profit will not be less than Rs. 25,000. The firm's profit for the year ending on 31st March, 2025 was Rs. 1,00,000. The amount of deficiency to be borne by Aman was:

2025: 24 May Shift 1

Choose the correct statement in respect of the Fixed Capital Method for a Partnership Firm :-

2025: 15 May Shift 2

Accounting treatment for a partnership firm is similar to that of a sole proprietorship business except the following aspects:

(A) Distribution of Profit and Loss among the partners

(B) Dissolution of Partnership Firm

(D) Adjustments for Wrong Appropriation of Profits in the Past

Choose the correct answer from the options given below:

2025: 27 May Shift 1

If the partnership deed is silent on interest on capital, then:

2022: 20 Aug Shift 2

Match List I with List II

List I	List II
A. Partner's Salary	I. P & L A/c Dr.
B. Manager's Salary	II. P & L Appropriation A/c Dr.
C. Distribution of Loss	III. P & L A/c Cr.
D. Commission Received	IV. P & L Appropriation A/c Cr.

Choose the correct answer from the options given below:

2025: 13 May Shift 2

Which section of the Partnership Act 1932, defines partnership?

The clauses of partnership deed can be altered with the consent of:

Solution

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