Elements of Accounts (Part 1) is the basis for your success in 12th Commerce board exams!
A partnership is a single business in which two or more people share ownership.
Similar to the sole proprietor, the partnership firm also prepares its final accounts from the trial balance.
In this course, we discuss the change in profit and loss sharing ratio or distribution ratio between the existing partners in detail.
When a partner is admitted to the existing partnership firm, it is called admission of a partner.
What is retirement? What are the circumstances of retirement of a partner? Find the answers to these questions and test your knowledge too!
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