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Types of Partners
1. General Partners -Unlimited active and liability in participation in partnership activities.2. Limited partners - Limited liability in the management of partnerships does not participate.3. Sleeping partners - has no active role, yet, such a partner will have donated to the capital of the partnership business and will so share in the profits while at a lower proportion in mainly cases.A partnership deed constitutes a legal contract with the partners. The articles of partnerships must enclose eleven clauses.a) Capital contributionb) Profit sharing ratioc) Nature of businessd) Powers of each partner.e) The provision for proper accounts and their audit.f) Rates of interest on both capital and drawingsg) Grounds of dissolution.h) Expulsion procedures.i) Determination of amount payable to outgoing partners.j) Determination of Goodwillk) The arbitration clause.
Agency Relationship between Auditors and Shareholders Shareholders appoint auditors as per the provisions of Section 159(1)-(6) of the Companies Act. The auditors are believed
(a) State the most appropriate drivers for the following direct expenses: (i) New business administration department's salary costs (ii) Medical examinations for temporary life
Stock Exchange Index or SEI Stock Exchange Index is a measure of relative changes in prices of stocks from one duration to another index. Nairobi Stock Exchange twenty (20) -
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The construction of a highway is broken into 14 activities as shown in the following table. Draw a bar chart of this construction project. Activity ID Desc
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