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Why is it important, to have a partnership deed in writing?

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It is important to have a partnership deed in writing because it contains terms and conditions agreed upon by all the partners and is helpful in avoiding all misunderstandings and disputes.

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Give two circumstances under which a partnership is dissolved.

Ruchi Ltd. issued for public subscription 40,000 Equity Shares of Rs. 10 each at a premium of Rs. 2 per share payable as:

From the following Information, calculate Inventory Turnover Ratio: Credit Revenue from Operations Rs. 3,00,000; Cash Revenue from Operations Rs. 1,00,000, Gross Profit 25% of Cost, Closing Inventory was 3 times the Opening Inventory. Opening Inventory was 10% of Cost of Revenue from Operations.

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