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Partnership
Definition -Partnership may be defined as a relationship between persons carrying on a business in common with a view of profits. In partnership business, two or more persons jointly run a business. The liability of the individual partner is unlimited unless the partnership agreement provides for any limitations. A partnership consists of not more than twenty persons except in certain cases e.g. practicing lawyers, professional accountants, and members of the stock exchange where this figure can be exceeded. Normally, the number of partners in a partnership business varies from two to five partners. In a case of banking business the number of banking partners is limited to ten.
In Kenya all partnerships are formed in accordance with Partnership Act of 1934 (Chap 29). The name of the partnership must be registered first under the Registration of Business Act. The formation of partnership is not very complicated.
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Define two instances of Efficiency Ratio, Liquidity Ratio, Leverage Ratio? 1. Define two instances each of 'Efficiency Ratio', 'Liquidity Ratio', 'Leverage Ratio' and 'Prof
what is cum interest
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The organization performed very well during the last year and generated profit in each segment. In the food and beverage segment, the company has made 30% net profit and in rooms a
Paper on Estate Planning (3–5 pages) Evaluate the tools commonly used in estate planning, including trusts, life insurance, and annuities. Compare the tools as to how they would a
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Creditors Payment Period Ratio Creditors payment period = 365/ Creditors turnover = (365 x Average creditors)/Annual credit pu
How are earnings calculated for the Pe ratio?
The Audiology Department at Randall Clinic offers many services to the clinic''s patients. The three most common , along with cost and utilization data, are as follows: Service Var
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