Partnership will prepare an extra account after the profit and loss account. This account is:

A business owned by only one person is:

Each partner has an account in nominal ledger. This account is known as:

Two sole traders agree to amalgamate their business without registering their amalgamation. This is:

In which section of Indian constitution is partnership defined?

Interest on loan account is transferred to:

Is it mandatory to register a partnership firm?

All partners are responsible for the debts of a business. This is the feature of:

The amount of balance, after the interest on capital and partners' salaries are deducted is known as:

Name of the account which shows the net profit/loss shared between partners.