Partnership deeds, Finance Basics

Partnership Deeds

This is an important document which governs the members in partnership firm. It covers among other things the following points:

     i. The name, location, and the nature of the business

     ii. Names of the partners, duties and rights of each

     iii. Amount to be invested by each

     iv. Procedures for sharing profits and losses

     v. The duties, power, and liabilities of each partner

     vi. Basis of valuation of good will

     vii. Methods of dealing with the death, retirement, insolvency of one or more partners

     viii. Matters relating to the admission of a new partner

     ix. Methods of settling the account in case of dissolution

     x. Mode of preparation of accounts

 

 

Posted Date: 8/29/2012 6:07:03 AM | Location : United States







Related Discussions:- Partnership deeds, Assignment Help, Ask Question on Partnership deeds, Get Answer, Expert's Help, Partnership deeds Discussions

Write discussion on Partnership deeds
Your posts are moderated
Related Questions
Debt Finance in US of Small Companies Why It CAN Be Difficult For Small Companies to Raise Debt Finance in US Lack of safety avoidances of finances available

#questioxcvxcvn..

Preparing Contract Note in the Stock Exchange Clerk takes the details of the day's transaction to the broker at the end of working day. Broker scrutinizes all transactions o

The Jacobs company needs to acquire a new lift truck for transporting its final product to the warehouse. One alternative is to purchase the truck for $45,000. Maintenance of th


Constraints of Venture Capital in US 1. Require of rich investors in US, thus inadequate equity capital. 2. Inefficiencies of stock market - NSE is investors and inefficien

(a) RBC has 100 loans outstanding, each for $1 million, which it expects to be repaid today.  Each loan has a 5% probability of default, in which case the bank is not repaid anythi

Incentive Problem and Consumption of Perquisites Incentive Problem Managers may have fixed salary and they may have no incentive to work hard and maximize shareholders weal

Example of EOQ Assumptions ABC Ltd requires 2,000 units of a component in its manufacturing method in the coming year that costs of Sh.50 each. The items are obtainable locall

Financial management is very important for any organization as at the end what does matter is the money. An effective financial management is of high importance for ensuring the be