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A report on procedure of winding up partnership firm needs and importance to point accountancy 12 that commers

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ds and importance of partnership firms are  • Greater capital and credit possessions • Modification of MANAGEMENTEASY FORMATION • Poised wisdom leads to better results • Greater personal supervision • Shouldering of risks Procedure of winding up: • Distributing the residual assets to the continuing PARTNERS • Collecting residual business possessions. • Settling any residual amount owed to non-partner CREDITORS. Hope it helped..........



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