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Class 12 Accountancy Partnership Accounts - Basic Concepts Partnership DeedEasy

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What is the benefit of writing the nature of business in the deed?

Answer and explanation

Correct answer: It clarifies the work of the firm

Nature of business shows the firm’s area of work. It keeps partners’ authority clear and limited.

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Nature Of Business Partnership Deed Clause Partnership Deed Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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