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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.
Rights of Ordinary Shareholders A. Right to vote Choose BOD Purchase/Sales of assets B. Influence decisions as: Right to residual ass
Partnership Deeds This is an important document which governs the members in partnership firm. It covers among other things the following points: i. The name, location,
what will happen to the loss on account of premium redemption of debenture through sinking fund? Where do i close this account to?
management and directors
#ques1. Steve and Ed are cousins who were both born on the same day, and both turned 25 today. Their grandfather began putting $2,500 per year into a trust fund for Steve on his 20
Factors that Influence the Cost of Finance 1. Terms of reference - if short term, the cost is generally low and vice versa. 2. Economic conditions prevailing - If a com
details about forward contract
1. Describe the similarities and differences in between an ordinary annuity, an annuity due, and perpetuity. Provide a methodical answer, including examples to demonstrate your po
1. A stock pays no dividend and is expected to be sold for $50 after 4 years. If the investor's RRR is 12%, at what price is he/she willing to buy it? 2. ABC company has its ROE
Liquidity Ratios - Ratio Analysis It also identified as working capital ratios. They show capability of the firm to meet its short term maturing financial obligation/recent l
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