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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.
Market For Funds Market for Funds and Financial Institutions in Middle Asia 1. Financial markets refer to an elaborate system of the financial institution and arrange
Solution to the Agency Conflict The government can acquire the following actions to protect itself and its interests. 1. Acquire monitoring costs E.g. the gover
Cost of Retaining Finance This will contains dividends for share capital and interest for debt finance or can say tax deducted or like effective cost of debt. Though, when co
Solutions - Shareholders and Management Conflict Conflicts between management and shareholders may be resolved as follows like: 1. Pegging or attaching managerial compens
Internal finance can avoid the agency costs of debt and equity finance. In practice it is the most important source of funding. (a) Discuss potential problems of internal financ
The following NPV's have been calculated to determine if a compressor installation should be accelerated from Year 3 to Year 7. The compressor cost is $1,500,000. a. C
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Legal Rules - Factors Influencing Dividend a) Net purchase rule States that dividend may be paid from company's profit either past or present. b) Capital impairment r
What are the Features of Stock Exchange The key features of stock exchange are as below: (1) Organised Market: Stock Exchange is an organized market. Each stock exchang
Acceptance Rule of Accounting Rate of Return or ARR ARR procedure will accept those projects whose ARR is higher rather than that set with management or with bank rate and it
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