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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.
Importance of Working Capital Management The finance manager must understand the management of working capital since of the following purpose: a) Time devoted to working c
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The operating profit (EBIT) of ABC Ltd is Rs. 1,60,000. Its capital structure consists of the following: 10% Debentures Rs. 500000 12% Preference Shares 1
Bob and Jackie came to your bank seeking an FHA mortgage. They want to know how large a mortgage they would be qualified for and what the terms would be. Bob is a pastry chef (
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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
Setting a Reorder Point - ROP Once the order quantity has been determined, the next question to be settled is when to place the order. If an order is released and it takes th
Define the term- Origination Origination offers to the work of investigation, analysis and processing of new project proposals. Origination starts before an issue is really
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