Distribution of Profit and Loss – Q&A

True Tamplin

Written by True Tamplin, BSc, CEPF®
Updated on August 12, 2021

1. Define Partnership.

2. Write any "Four" essential elements of partnership.

3. write any four advantages of partnership.

4. how many "Kinds of partners" in partnership business?

5. Define the following?
1. Active partner
2. Sleeping partner
3. Nominal partner

6. Explain partnership deed/agreement.

7. Describe the methods of maintaining capital account in partnership business.

8. What do you mean by capital Ratio?

9. Define goodwill.

True Tamplin, BSc, CEPF®

About the Author
True Tamplin, BSc, CEPF®

True Tamplin is a published author, public speaker, CEO of UpDigital, and founder of Finance Strategists.

True contributes to his own finance dictionary, Finance Strategists, and has spoken to various financial communities such as the CFA Institute, as well as university students like his Alma mater, Biola University, where he received a bachelor of science in business and data analytics.

To learn more about True, visit his personal website, view his author profile on Amazon, his interview on CBS, or check out his speaker profile on the CFA Institute website.

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