Profit & Loss Appropriation Account.

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1. As per Partnership Act, 1932 no partner is entitled to any salary or commission unless agree to by the Partners.  So in the present case partners have not agreed to pay salary to any partner, hence Vinod cannot claim salary from the firm.


answered Mar 14, 2016 by jbsclasses (3,971 points)
selected Mar 14, 2016 by Valerio