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Q. What do you understand by Partnership?
Partnership - Relationship between two or more persons based on anoral, written or implied agreement whereby they agree to carry on a trade or business for profit and share the resulting profits. Unlike a CORPORATION'S shareholders, partnership's general partners are liable for the DEBTS of partnership. (See GENERAL PARTNERSHIP, LIMITED LIABILITY PARTNERSHIP, LIMITED PARTNERSHIP.)
what type of transaction is a service revenue earned on account? a) asset source, b) asset use, c) asset exchange or d) claims exchange?
1. discuss how VAT system works by using relevant examples. 2. list and explain the VAT supply categories; provide relevant examples of each category. 3. provide a recommendation r
Lower of Cost or Market - Valuing ASSETS for financial reporting purposes. Normally‘cost' is the purchase price of the asset and ‘market' refers to its current replacement cost. GE
Contribution and indemnity Generally the trustees are jointly and severally liable to the beneficiaries and a trustee sued may claim contribution from the others where although
Q. Explain Zero Base Budget? Zero base budgeting can be defined as - 1) An operating planning and budgeting process which requires each manager to justify his entire budget
The managers of Merton Medical Clinic are analyzing a proposed project. The project's most likely NPV is $120,000, but, as evidenced by the following NPV distribution, there is con
Illustration regarding profit that head office can claim E Ltd sets up a branch in Nyeri on 1 July 2001. Goods are sent to branch at an invoice price which is 10% above cost. S
Q. Capital asset pricing model to estimate a project? CAPM could have been utilized to estimate a project - specific Ke if the project activities were different from that of th
A company has the following forecast demand for the next five months: 1,600, 2,400, 3,200, 2,800, and 2,400. The following information is also available. curren
GROUP STRUCTURES A group structure is the relationship between the holding company and its subsidiaries. There are normally four main types of group structures (apart from the
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