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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 organization performed very well during the last year and generated profit in each segment. In the food and beverage segment, the company has made 30% net profit and in rooms a
Question 1: Consider a 5-year $10,000 endowment assurance issued to a select life aged 30 under the following bonus schemes:- (a) Simple reversionary bonuses of 5% p.a., 6%i
what is the definition of going concern
Reasons for why Ordinary Share Capital is Attractive Reasons for why ordinary share capital is attractive despite to be risky Shares are used as securities for loans as
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what is cum interest
Payback Period Method - Traditional Methods This method gauges the viability of a venture via taking the outflows and inflows over time to ascertain how soon a venture can pay
Characteristics of sole proprietorship The main characteristics of sole proprietorships are as follows: 1) Ownership- The ownership of the business unit is by one person.
Executive Share Options Plans In a share option format, selected staff can be provided a number of share alternatives, each of which that provides the holder the right after a
Describe the structure of financial systems with financial markets, securities and financial intermediaries. By a structural point of view a financial system can be considered
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