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Is it necessary to have a partnership agreement in writing?

  • Post category:Accountancy
  • Reading time:1 mins read

SOLUTION

No. It is not necessary to have a partnership agreement in written form. An oral agreement is equally valid. However, in order to avoid disputes, it is preferred to have a written agreement.


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Previous PostWhy salary and commission paid to partners are recorded in Profit & Loss Appropriation Account instead of Profit & Loss Account?
Next PostWhy is it important, to have a partnership deed in writing?

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