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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.
the two problems below (P1 and P2). Five marks each. Part marks will be allocated, but if you have the incorrect answer then you cannot expect to get more than half marks. Project
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If you inherited $ 45,000 today and invested all of it in a security that paid a 7 percent rate of return, how much would you have in 25 years?
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