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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.
A Ltd.'s share gives a return of 20% and B Ltd.'s share gives 32% return. Mr. Gotha invested 25% in A Ltd.'s share and 75% of B Ltd.'s shares. What would be the expected return of
Lavista Ltd is a leading music entertainment company in the country and the stocks of the company are actively traded in the stock exchange. For the year just ended few days back
The price of bread is $0.50 per pound, and the price of butter is $0.25 per ounce. Channing spends all of her income, buying 12 pounds of bread, 7 ounces of butter, and nothing els
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the two problems below (P1 and P2). Five marks each. Part marks will be allocated, but if you have the incorrect answer then you cannot expect to get more than half marks. Project
Monroe, Inc., is evaluating a project. The company uses a 13.8 percent discount rate for this project. Cost and cash flows are shown in the table. What is the NPV of the project?
A paper mill produces two grades of paper viz., X and Y. Because of raw material restrictions, it cannot produce more than 400 tons of grade X paper and 300 tons of grade Y paper i
What are the main functions of the financial systems? The main functions of financial systems in short are as follows: a. Give the mechanisms by that funds can be transferre
Solutions - Shareholders and Management Conflict Conflicts between management and shareholders may be resolved as follows like: 1. Pegging or attaching managerial compens
What is the role of a broker in security transactions? How are brokers compensated? Ans: Brokers handle orders to sell or buy securities. Brokers are agents who work in place o
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