The partnership deedit is the agreement that regulates the, Ask an Expert

Accounting

The Partnership Deed

It is the agreement that regulates the partner’s actions in undertaking the partnership business. This may or may not have been drawn up. It usually contains, amongst others:

Name of the firm, names of the partners, their addresses and their occupations;
The status/type of each partner, e.g. active/dormant, limited/unlimited etc
The capital to be contributed by each partner
Their profit sharing ratio
Salaries to partners, if any
Interest, if any on capital/drawings.

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Financial Accounting, Accounting

Category:- Financial Accounting
Reference No.:- M9516241

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