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If the deed is silent what is the rule regarding salary to partners?

Answer and explanation

Correct answer: Salary will not be allowed

Partner salary is allowed only when the deed provides for it. Under a silent deed it is not treated as an appropriation.

Related tags

PartnershipDeed SilentPartner SalaryAdjustmentsPartnership Accounts Basic ConceptsAccountancyClass 12 Mcq

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