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
AUTHOR:Vinod Kumar ( Educator )
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