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1)is registration of a firm is compulsory or optional. 2)state the purpose of allowing interest on capital of a partner. 3)why is it desirable to make the partnership agreement in writing .

Posted by Kirubakaran Kiru 4 years, 10 months ago

CBSE > Class 12 > Accountancy

1 answers

Alisha Wadhwa 4 years, 10 months ago

1) Registration of a partnership firm is optional but in case of limited liability partnership ,,it is compulsory. 2) interest on capital is allowed to compensate that partner who contributed excess capital in the firm. 3) it is not necessary to make partnership agreement in writing but it is useful to make partnership agreement in writing because it helps to settle disputes and misunderstandings among partners

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