The rules which govern the internal management of a firm and its financial affairs in a partnership business is a?
Answer Details
The rules which govern the internal management of a firm and its financial affairs in a partnership business is a partnership deed. A partnership deed is a legal document that outlines the terms and conditions of a partnership agreement between two or more partners. The deed includes important details such as the name of the partnership, the nature of the business, the capital contributions of each partner, the profit and loss sharing ratio, and the rights and responsibilities of each partner. The partnership deed governs the internal management of the partnership and its financial affairs, and it serves as a guide for the partners to ensure that they operate the business in a fair and transparent manner. It is an important document for any partnership business as it helps to prevent misunderstandings or disputes between the partners.