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State the term - Partnership
A partnership exists where at least two individuals carry on a business together with intention of making a profit. Partnerships have much in common with sole-proprietor businesses. They are generally quite small in size (Though some, like partnerships of accountants and solicitors, can be large). Partnerships are also easy to set up as no formal procedures are needed (and it's not even essential to have a written agreement between partners). Partners can agree whatever arrangements suit them concerning the financial and management aspects of business. In the same way, partnership can be restructured or dissolved by agreement between the partners.
Partnerships aren't recognised in law as separate entities and so contracts with third parties should be entered into in name of individual partners. Partners of a business generally have unlimited liability.
what are the disadvantages of just-in-time?
trying to put the numbers into the correct asset t-account and not adding up
want to know sbp bsc rato analysis for 2010 t0 2014
Classified income statement It is more involved for a merchandising business to conclude net loss or net income. Income statement is categorized into sections: 1. Revenue
A of Surat consigned goods to B of Jaipur to be sold at or above invoice price. B is entitled to get a commission of 8% on sales at invoice price plus 25% of any surplus price real
Q. What do you mean by Overhead? Overhead -- a cost that doesn't vary with the level of production or sales and generally a costnot directly involved with sales or production.
J Green''s financial position at 1 May 2008 was as follows bank 2,910 cash 160 equipment 5,900 premises 25,000 creditors R smith 890 t thomas 610 debtors j car
The following difference among financial and taxable income were reported by Dider Corporation for the current year (a) Excess of tax depreciation over book depreciation-------
The resources as machinery, property, buildings and land rights etc. such a business owns are termed as assets. The money values allocated to assets are derived from the cost conce
what is meaning by parallel accounts
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