Partnership and Its Types Sir Saleem Abbas 10/10/2012 Islamia university of bahawalpur Partnership A partnership arises whenever two or more people co-own a business‚ and share in the profits and losses of the business. Each person contributes something to the business -- such as ideas‚ money‚ or property -- though management rights and personal liability will vary. In Pakistan the partnership firms are registered under
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accountants‚ lawyers‚ and doctors? Limited Liability Partnership (LLP) There are two general partners‚ each of whom contributes $5‚000 in capital to a limited partnership. There are two limited partners‚ each of whom contributes $20‚000. The total amount of capital contributed is $50‚000. The limited partnership agreement does not stipulate how profits and losses are to be allocated. Assume that the limited partnership makes $300‚000 in profits. Under the Revised Uniform Limited Partnership Act (RULPA)‚ how
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Name: Tanasha Duncan Territory: Anguilla School: Albena Lake Hodge Comprehensive School Centre #: 020001 Registration #: 0200010174 Subject: Accounting Acknowledgements………………………………………………………. 3 Introduction………………………………………………………………. 4 Methodology……………………………………………………………… 5 Module One……………………………………………………………………… 7 Aim and Objectives………………….…………………… 8 Related Literature……………….……..………………… 9 Presentation‚ Analysis and Interpretation of Data...…. 10 Conclusion………………………………………………
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partners act as agents of the partnership‚ can attend meetings as a representative‚ signing of contracts 2. limited life – dissolution upon death‚ insanity‚ mental incapability‚ etc. of a partner‚ easily ended/terminated‚ change of ownership structure 3. unlimited liability – the liabilities are extended to the personal assets and properties (general partner) ; liability to partnership debts (limited partner) ; all partnerships must have at least one general partner 4. co-ownership of property 5. co-ownership
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Part 1: Goodwill and Discontinued Operations a) Carrying value of goodwill 24 June 2012 The carrying value of goodwill in Woolworth’s consolidated financial statements was $3221.8 Million (M) at 24 June 2012. This figure is included within ‘intangible assets’ on the consolidated balance sheet and exact amount is disclosed in the Note 11 of Notes to consolidated financial statements (Woolworths 2012‚ p 126). b) Movements in carrying value of goodwill The carrying value of goodwill at the
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Commission‚ decided in 1988‚ along with other All-India Financial/Investment Institutions and Nationalised Banks to promote a Public Limited Company under the name of "Tourism Finance Corporation of India Ltd. (TFCI)" to function as a specialised All-India Development Financial Institution to cater to the financial needs of tourism industry. TFCI was incorporated as a Public Limited Company under the Companies Act‚ 1956 on 27th January 1989 and became operational with effect from 1st February 1989. Introduction
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be‚ provided by the private sector. It consists of national and local governments‚ their agencies‚ and their chartered bodies. Examples of public sector organizations: Public Utilities • Telecommunications Services of Trinidad and Tobago Limited (TSTT) • Trinidad and Tobago Electricity Commission (T&TEC) • Water and Sewerage Authority (WASA) Local Authority Services • Education & Recreation • Public Housing • Environment & Conservation • Protection i.e. Police
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Exam 1 1. Country A is extremely efficient in the mining of tin. However‚ its climate and terrain makes it difficult to produce corn. According to the theory of comparative advantage‚ Country A should: concentrate its production on tin and buy corn from an efficient producer. 2. Climate and terrain in several South American countries are conducive to growing coffee efficiently. While other countries can grow coffee‚ they are not as efficient and effective at coffee growing because of short seasons
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Resources Needed Timing Evaluation and Control References Appendix A: Biographical Sketches of Key Personnel Executive Summary Victoria’s Secret is an underwear company specialized for women almost any age. It is a part of Limited Brands portfolio‚ which owns Victoria’s Secret Pink‚ Bath & Body Works‚ C.O. Bigelow‚ La Senza‚ White Barn Candle Co. and Henri Bendel brands. Victoria’s Secret accounts for more than 50% of this portfolio. It is the most purchased underwear brand
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will go down. Crown Limited (CWN) is one of Australia’s largest entertainment groups. The group’s core businesses and investments are in the integrated resorts sector. The Crown Entertainment Complex in Melbourne is one of the largest integrated resorts in the southern hemisphere‚ which owns a number of facilities including casino‚ hotels‚ function rooms‚ restaurants‚ shopping and entertainment services. Burswood Entertainment Complex was acquired in 2004 (Crown Limited‚ 2011). Burswood is Perth
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