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Partnership Firm Agreement is known as?
5. Partnership Firm Agreement is known as?
- Partnership Contract
- Partnership Deed
- Partnership Act
- Agreement
Answer: B) Partnership Deed
Explanation:
A partnership deed is an understanding between the accomplices of a firm that traces the agreements of association among the accomplices. It indicates the different terms like benefit/misfortune sharing, pay, interest on capital, drawings, affirmation of another accomplice.