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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.
Suppose an entrepreneur owns a firm which has two production opportunities. Technology A generates an output (net profit) of 10 in state 1, an output of 20 in state 2, and an outpu
Cum. And Ex. - Terms Used in Capital Market Authority These prefixes are written in front of other words as like capital, rights and dividends to qualify them."Cum" i
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ROA - Return on Assets The Average of the industry ROA was 10.02% for 2004, 6.81% for 2005, and 7.32% for 2006. The chart showed that Lenovo had a little bit higher ROA th
what will happen to the loss on account of premium redemption of debenture through sinking fund? Where do i close this account to?
Differences between Equity Finance and Preference Dissimilarity between Equity Finance and Preference are as follows: Ordinary share capital
A City has determined that building a new water distribution system using a new source of water would have an annual costs of $5,750,000 and annual net benefits of $4,250,000. The
What financial report exactly do? Financial reports tell its intended readers about all the financial information of the company for the period it is reporting. It also contain
How are financial trades made on an organized exchange? Ans: Each exchange-listed security is traded at a fixed location on the trading floor known as the post. The trading is
Based on the example in Lesson 2, compute your quarterly interest for three years if you deposit $500 at 8 percent, compounded quarterly. Remember to divide the 8 percent by 4 to g
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