February 26, 2019

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Accounting for Partnership Firms

Cash flow Statements Practice Paper-Accountancy Class XII

Accounting for Partnership Firms

Accounting for Partnership Firms
The basic accounting procedure is similar in all cases, there are certain special features in the
accounts of a partnership firm. In the case of a partnership firm, for example, the special
features relate to the distribution of profits, the maintenance of capital accounts and the
adjustments required when the firm is reconstituted.


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