What are the rules applicable in the absence of partnership deed?

Rules in the absence of Partnership Deed6 0 Vinod Kumar ( Educator )1. # All partners will divide profit and loss equally.2. # If any partner gave loan to firm, partnership firm wi

What are the rules applicable in the absence of partnership deed?

Rules in the absence of Partnership Deed6 0 Vinod Kumar ( Educator )1. # All partners will divide profit and loss equally.

2. # If any partner gave loan to firm, partnership firm will give 6% interest on that loan.

3. # No salary is given to any partner for participation in the work of partnership firm.

4. # No interest will be given on the capital of partners.

5. # Partnership firm will not take interest on his given amount in the form of drawing to any partner.accounting accounting glossary

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AUTHOR:Vinod Kumar ( Educator )

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Vinod Kumar (born March 30, 1980) is an Indian Educator who is founder of SvTuition and Accounting Education a free online accounting education platform and an organisation with which he has written over 5000+ contents and video teaching lessons a wide subjects, focusing on accounting, finance, mathematics and science. Read more at https://www.svtuition.org/p/vinod-kumar.html

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