PART A

Explain the nature of the Partnership and various activities of the Business. Prepare a Detail Partnership Deed distributing all kind of roles and responsibilities. All partner must not be equal in terms of any criteria under partnership deed.

[4 MARKS]

PART B

Modify the above Partnership deed and justify your answers/ calculation in all the following cases and shows how it will impact your partnership business in terms of Profit/Working/ skills/ Growth.

a) Enter a new Partner after two years of completion of Business

b) Retire a partner after 3 Years of completion of Business

c) Enter a new Partner and retire a partner simultaneously after five years of completion of Business

d) Dissolution of partnership at the end of 10 Year.

You are free to predict sales/revenue, profit/loss and all other essential elements related to partnership business to justify your answers