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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.
Explain about commercial banks in depository institutions. Commercial banks: Commercial banks accept deposits or liabilities to create loans or assets and to buy governme
Accounts Payable Turnover Ratio Ratio for Account Payable Turnover is as Follow: Creditors/accounts payable turnover = Annual credit purchases /Average creditors
What is the effective annual cost of skipping the discount and paying at the end of the net period for the following credit terms: 6/10, net 70? please show work"
Debt Finance Debt finance is a fixed return finance like the cost as interest is fixed on the par value as face value of debt. This is ideal to require if there's a strong equ
You have the following information for Stardusts: Current EPS is $1.79. The current dividend is $.68 per share. The return on equity is 24%. The present price is $49.22. a.
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
Disadvantages of Debt Finance It is a conditional finance that is it is not invested along with any approval of lender. Debt finance, whether used in excess may interr
Your boss has worked in banking for many years, and has specialised during his career in lending to large and medium-sized companies. He must attend a meeting in a few days' time t
A firm has sales of Rs. 10,00,000. Variable cost is 70%, total cost is Rs.9,00,000 and Debt of Rs. 5,00,000 at 10% rate of interest. If tax rate is 40% calculate:
Illustrates the roles of money? Roles of Money: a. A medium of exchange An asset which individuals obtain for the intention of trading quite than for their own consump
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