--%>

Deficiency of a partnership deed

In the deficiency of a partnership deed, how are mutual relations of partners managed?

Answer: In the absence of Partnership deed, the mutual relations are managed by the Partnership Act, 1932.

   Related Questions in Managerial Accounting

  • Q : Allocating resources in decision making

    Write down a short note on the Allocating resources in decision making process?

  • Q : Child tax credit A type of personal tax

    A type of personal tax credit that reduces the amount a taxpayer must pay. The child tax credit is $1,000 (in 2008) for each child meeting the criteria the child must be a U.S.  National, citizen, or resident under 17, a dependent of the taxpayer, and a grandchil

  • Q : Budgetary accounts Accounts used in

    Accounts used in governmental accounting to record the budget amounts but not the actual amount. For example, at the beginning of the accounting period, the planned amount of tax revenue, revenue from license, and inflows from fines would be recorded as one amount in

  • Q : Define Avoidable Cost Avoidable Cost :

    Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.

  • Q : Define Traceability Traceability : The

    Traceability: The capability to assign a cost directly to a particular activity or cost object by identifying or observing particular resources used by the activity or cost object.

  • Q : Rights of each partner The rights of

    The rights of each partner: Under the Partnership Act, partners have the right to: Share equally in profits and losses; Indemnity; Interest on advances; Interest on capital; Share in management of

  • Q : What do you mean by the term SWOT

    What do you mean by the term SWOT analysis? Explain in brief?

  • Q : Explain Cost Assignment Cost Assignment

    Cost Assignment: A procedure which identifies costs with activities, outputs, or another cost objects. In a wide sense, costs can be assigned to activities, processes, products, organizational divisions, and services. There are three

  • Q : Banker’s acceptance A security that

    A security that starts as an instrument similar to as check, in which a customer asks the bank to pay the designated amount to a payee in the future. The bank accepts the order, becoming responsible for payment, because the customer has the money to back the check, an

  • Q : Key elements of the Shell’s ethical code

    What are the key elements of the Shell’s ethical code? Describe in brief?