Type of partnerships, Finance Basics

Assignment Help:

Type of Partnerships

There are two main kinds of partnerships. Namely:

Ordinary Partnership - An ordinary partnership is one in which all members have unlimited liability. That is, they are all answerable to all the debts of the firm up to the extent of sale of their personal property.

Limited Partnerships - A limited partnership is one in which the liability of members is restricted to the amount of capital they have invested in the business. In such a partnership, however there must be at least one partner whose liability is unlimited. Limited partners do not participate in the management of the firm. A limited partnership must also register with the registrar of companies. In that case a partnership deed or article of partnership must be drawn up. 

 

 


Related Discussions:- Type of partnerships

PERDIEM CLAIM, how to make a perdiem claim format to maintain the records o...

how to make a perdiem claim format to maintain the records of staff

New divisor, Able, Baker and Charlie are the only three stocks in an index....

Able, Baker and Charlie are the only three stocks in an index. The stocks will sell for $93.$312 and $78 respectively. If Baker undergoes a 2-for-1 stock split, what is the new div

Ros - return on sales-profit margin , ROS - Return on Sales (Profit Margin)...

ROS - Return on Sales (Profit Margin) The Average of the industry ROS was 5.18% for 2004, 4.41% for 2005, and 7.20% for 2006. The chart showed that ROS has been declined f

Creditors payment period ratio, Creditors Payment Period Ratio Credit...

Creditors Payment Period Ratio Creditors payment period =   365/ Creditors turnover                                           = (365 x Average creditors)/Annual credit pu

Student, Intercontinental Baseball Manufacturers (IBM) has an outstanding b...

Intercontinental Baseball Manufacturers (IBM) has an outstanding bond with a $1,000 face value that matures in 10 years. The bond, which pays $25 interest every six months ($50 per

Gross requirements of mrp system, Gross requirements of MRP System Acc...

Gross requirements of MRP System Accumulation of demand for this item from all sources independent and dependent. For instance, customer orders, spare part requirements, repla

Benefits of payback period, Benefits of Payback Period 1. use simply a...

Benefits of Payback Period 1. use simply and understand and it has created it popular among in ascertaining the viability of venture executives, mainly traditional financial m

Intro to finance, discuss the flow of fund in an open economy

discuss the flow of fund in an open economy

Determine tax cash flows & irr, An industrial engineer proposed the purchas...

An industrial engineer proposed the purchase of a RFID Fixed Asset Tracking System for the company's warehouse and weave rooms.  The engineer though that the system would provide a

Logistics management - supply chain management, Logistics Management - Supp...

Logistics Management - Supply Chain Management The objectives of logistics management are to: Determine the best routes to market; air, rail or road Determine if w

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd