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AP
Question Practice

What should partners do if they wish to change the capital withdrawal amounts stipulated in the 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 should partners do if the...

Single Answer MCQ
Q-00082003

What should partners do if they wish to change the capital withdrawal amounts stipulated in the deed?

1

Abide by the deed terms

2

Create a new deed

3

Withdraw as per agreement

4

Seek legal counsel

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What is a partnership and what are its chief characteristics?

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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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