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mediumMCQCUET Accountancy 2023 20 June Shift 22026Accountancy
1 mark

The contents of a Partnership Deed include which of the following?A. Names and addresses of all partnersB. Method for settlement of disputes among partnersC. A mandate stating the deed once made cannot be altered under any scenarioD. Rules regarding the operation of the firm's Bank accountE. A rule that only verbal agreements between partners qualify as a formal deedChoose the correct answer from the options given below:

  1. A
    B, D and E only
  2. B
    A, C and E only
  3. C
    A, B and C only
  4. D
    A, B and D only

Solution & Step-by-step Explanation

Let's look at the legal nature of a partnership deed:\begin{itemize}\item It contains fundamental identifier records and operational guidelines, such as \textbf{A (names and addresses)}, \textbf{B (dispute resolution pathways)}, and \textbf{D (bank account handling regulations)}.\item Statements C and E are completely incorrect because a partnership deed can be modified at any stage with the unanimous consent of all partners, and a partnership deed is specifically defined as a \textbf{written} document, not a verbal one.\end{itemize}Thus, options A, B, and D are valid contents.

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The contents of a Partnership Deed include which of the following?A. Names and addresses of all partnersB. Method for settlement of disputes among partnersC. A mandate stating the deed once made cannot be altered under any scenarioD. Rules regarding the operation of the firm's Bank accountE. A rule that only verbal agreements between partners qualify as a formal deedChoose the correct answer from the options given below:
A
B, D and E only
B
A, C and E only
C
A, B and C only
D
A, B and D only

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