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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.
You are called in as a financial analyst to appraise the bonds of Olsen’s Clothing Stores. The $1,000 par value bonds have a quoted annual interest rate of 13 percent, which is pai
Frequency distribution for amount charged with starting point 1800, class width 1000. For income use starting point 20 and class width of 10.
Allocation of financial resources to the different department can be done based on the past experience of the expenses and other available relevant information. Looking at the requ
Debtors or Accounts Receiver Turnover Formula is as follow: Debtors/accounts receiver turnover = Annual credit sales/Average debtor The ratio signify the number of ti
main function of the insurance market
At the end of the fiscal year ending June 30, 2003, Microsoft reported common equity of $64.9 billion on its balance sheet, with $49.0 billion invested in financial assets (in the
Cash Cycle and Cash Turnovers Cash Cycle refers to the amount of time which elapses from the point whenever the firms create a cash outlay to purchase raw materials to the poi
sir could you please tel me what is A/R process.
Question 1: ‘The Basel II framework provides a range of options for determining the capital requirements for, inter-alia, credit risk and operational risk to allow banks and s
Suppose the ABC Corporation is currently all-equity financed and would like to increase its value by issuing debt. The firm has annual earnings before interest and taxes of $7,0
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