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Class 12 Accountancy Partnership Accounts - Basic Concepts Partnership DeedEasy

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What does duration of the firm in the deed show?

Answer and explanation

Correct answer: How long the firm will continue

Duration shows whether the firm is for a fixed period or not. It clarifies the partnership plan.

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Duration Of Firm Partnership Deed Clause Partnership Deed Partnership Accounts Basic Concepts Accountancy Class 12 Mcq

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