05-28-2006, 04:39 PM
oh i hav found the answer to my 1st question
partnership act in the absence of any agreement doesnt allow the distribution of shares in profit sharing ratio .
BUT now what the matter is that some authors distribute the shares in closing partners capital ratio as at balance sheet date , whereas some
distribute in the ratio of partner's final claims that is after loss or profit on realisation & other reserves and profits have been transferred.which one should be preferred and why?
partnership act in the absence of any agreement doesnt allow the distribution of shares in profit sharing ratio .
BUT now what the matter is that some authors distribute the shares in closing partners capital ratio as at balance sheet date , whereas some
distribute in the ratio of partner's final claims that is after loss or profit on realisation & other reserves and profits have been transferred.which one should be preferred and why?
