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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.
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
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Similarities between Equity Finance and Preference Similarities among Equity Finance and Preference are as follows: a) Both may be permanent whether preference share capita
defects of indian stock market
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Price Earnings Ratio Price earnings (P/E) or ratio = Market price per share (MPS)/Earnings per share OR = Market value of equity /Ea
Example of Payback Period Method Suppose a project costs Sh.80,000 and will produce the following cash inflows as: Cash inflows Accumu
Evaluate the probability of 10 or more customers arriving within 2 hours if on average 7 customers arrive within one hour. Customers arrive independently.
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
If banks expect an unusually large increase in withdraws from checking deposit accounts in the near future, what would happen to the federal funds rate, borrowed reserves and nonbo
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