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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.
Accounting Rate of Return Method or ARR This method utilizes accounting profits from financial status to assess the viability of investment proposal via diving the average inc
Contribution Margin The Average of the industry Contribution Margin (CM) was 15.40% for 2004, 14.39% for 2005, and 13.18% for 2006. The chart showed that Contribution Mar
Source of Finance for the Sole Proprietor Some sources of capital---Discuss a) Savings b) Assistance from friends or relatives c) Proceeds from sale of assets d) Ba
Materials Management - Supply Chain Management Materials management was once a task undertaken without the assistance of computers. Today it is unthinkable as the speed of cal
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Terms used in Capital Market Authority 1. ACCOUNTS fourteen (14) days durations into that the stock exchange trading calendar is divided. 2. ACCOUNTS DAY - Sixth or sev
AsStudents will analyze and synthesize the financial reports of an organization of their choice and present their findings in a PowerPoint presentation (with completed Notes sectio
objectives of financial management
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#what is an interest?
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