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Partnership Firm Financial
In partnership ship firm, is there any provision for how many partners to sign balance sheet?
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Quick Summary
In a partnership firm, the signing of the balance sheet is governed by the Partnership Act, 1932, and the Companies Act, 2013 (in case of LLP). - As per Section 69 of the Partnership Act, 1932, the balance sheet should be signed by: - All the partners (in case of a small firm, i.e., less than 20 partners) - At least two partners (in case of a large firm, i.e., 20 or more partners) - In case of an LLP, as per Section 34 of the Limited Liability Partnership Act, 2008, the balance sheet should be signed by: - At least two designated partners (DPs) - All the DPs (if there are only two DPs) Please note that these requirements may vary depending on the specific circumstances and the partnership agreement.
Section 69 provides for effect of non registration. Request you to provide for section refrence under partnership act
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