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Curriculum-aligned learning paths for students in Classes 6-12.

AP
Question Practice

What happens if a partner takes a salary according to the partnership deed?

Attempt the question, check the explanation, and continue with similar questions to build confidence before exams.

MCQ_SA
CBSE
Class 12
Accountancy
Accountancy Part - I
Accounting for Partnership: Ba...
Question Bank

What happens if a partner take...

Single Answer MCQ
Q-00081964

What happens if a partner takes a salary according to the partnership deed?

1

It is deducted from profits before distribution

2

It is given only if profits exceed a certain limit

3

It is added to their capital account

4

It reduces the partnership's overall profit

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Q1.

What is a partnership and what are its chief characteristics?

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Explain the main provisions of the Indian Partnership Act 1932 that are relevant to partnership accounts in the absence of a partnership deed.

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Q3.

What is the primary purpose of a partnership deed?

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Q4.

If a partnership deed is silent on the profit-sharing ratio, how should profits be shared?

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