Partnership accounts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 November 2014
Registration of Partnership Firm is not Compulsary :--- please Comments
2) Is It Necessary to bring capital by all the partners in partnership firm::___ comment
03)Whether it is compulsary to maintain partners current accounts in all type of partnership Fir" :- Comments
04) Balancesheet is the Picture of the Financial position of Firm :- Explain how??
05) Net Profit is the tru and correct profit of the partnership firm :- explain your opinion
I urgently need your expert opinion
2) Is It Necessary to bring capital by all the partners in partnership firm::___ comment
03)Whether it is compulsary to maintain partners current accounts in all type of partnership Fir" :- Comments
04) Balancesheet is the Picture of the Financial position of Firm :- Explain how??
05) Net Profit is the tru and correct profit of the partnership firm :- explain your opinion
I urgently need your expert opinion
07 November 2014
1.) No, it is not compulsory to register partnership firm.
2.) Not necessary to bring cap. by all partners.
3.) Not compulsory to maintain current account of partners.
4.) Balance sheet shows financial position because it shows all assets (current, fixed etc.) and liabilities (current and long term etc) as well.
5.) If all expenditures and properly accounted then net profit shows the correct picture.
Thanks.
1.) No, it is not compulsory to register partnership firm.
2.) Not necessary to bring cap. by all partners.
3.) Not compulsory to maintain current account of partners.
4.) Balance sheet shows financial position because it shows all assets (current, fixed etc.) and liabilities (current and long term etc) as well.
5.) If all expenditures and properly accounted then net profit shows the correct picture.
Thanks.
Querist : Anonymous
Querist :
Anonymous
(Querist)
08 November 2014
Thanks Mr Devanand For your Answer but Sir, i have still some confusion Like Why It is not necessary to register Partnership Firm
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Depreciation Chart Companies Act
- GST Audit whether Govt Companies are exempt?
- PTRC Show Cause Notice on Email
- Accounting treatment of AMC alongwith the purchase of Laptop
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Capital Gail Exemption Certificate
- Taxation of crypto futures in India Fy 2026- 2027
- MSME disclosure and disallowance
- EPF ECR NEW RULES Sep 17th 2026
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
