Steps involved ...

Business is treated as a separate entity accounts for ______________.

Each Partner in a firm is in the position of ________.

M, is employed by PQR Bros., a Partnership Firm. M is entitled to remuneration of Rs. 40,000 p.m. plus 12% on the Profits of the Firm, if profits exceed Rs.10 Lakhs. Here ___________.

When no ratio of sharing of profits and losses are given, then profit and losses is shared ________.

A was an Employee in a Partnership Firm with a Salary of Rs. 50,000 per month and he will get a Share of 30% in Profits if the Profits ot the Firm exceed Rs.5,00,000. Now W is called ________.

The amount received by a partnership firm from the insurance company on the maturity of a Joint Life Policy taken by the firm will be distributed amongst the partner ___________.

As per the agreement, Profits should be shared equally but Loss shall be borne by one Partner. Then the Partnership agreement is_____.

The Mode of determining the existence of Partnership is __________.

In which of the following, the Partnership duration is not fixed?

Sharing of profits is  _________ evidence of existence of Partnership.