Chapter # 03 Partnership Q-1 Define Partnership and explain the features of Partnership? Ans. A partnership is the relationship existing between two or more persons who join to carry on a trade or business. Each person contributes money‚ property‚ labor or skill‚ and expects to share in the profits and losses of the business. A partnership must file an annual information return to report the income‚ deductions‚ gains‚ losses‚ etc.‚ from its operations‚ but it does not pay income tax. Instead
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challenges of insecurity orchestrated by Boko Haram insurgency nowadays within the polity appears to have created porous security condition that engenders violence and retards development. The basic question many Nigerians and foreigners ask is: How has Boko Haram developed or underdeveloped Nigeria? This paper is thus an attempt to address this question posed above. But this paper argues that boko haram activities have not been of any good help to Nigeria; hence‚ it has contributed to Nigerian underdevelopment
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To determine whether Nazir and Omar has a valid partnership or not.We need to look and understand the definition of partnership by Partnership Act‚ 1961.S.3(1) define partnership as ‘Partnership is the relation which subsists between person carrying on a business in common with a view of profit’.5 words need to be examine‚first is ‘relation’‚’person’‚‘a business’‚’carried in common’ and ‘with a view of profit’ .We will look into what type of relation they are in‚is the business running carried in
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How Communication Affects Relationships In The Work Setting. Relationship with the children: Communication helps to build relationships with the children I work with‚ a lot of this is done through play‚ as we play games or participate in the activities‚ I ask the children simple questions which allows me to get know the children better and build a relationship with them. Building and maintaining a good relationship with the children in my setting is very important as they will then feel able to
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Civil Law SUMMER REVIEWER CHAPTER 1: GENERAL PROVISIONS PARTNERSHIP - a contract wherein two or more persons bind themselves to contribute money‚ property‚ or industry to a common fund‚ with the intention of dividing the profits among themselves. (see Art. 1767‚ CC) (General Professional Partnership‚ Art.1767¶2) Two or more persons may also form a partnership for the exercise of a profession. ELEMENTS OF A PARTNERSHIP: There shall be a partnership whenever: 1. There is a meeting of the minds; 2. To
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9.3 HSC Core: Parenting and Caring Becoming parents and carers Parent: individual who cares for an infant from birth until independence. Carer: individual who takes on role of looking after someone who is ill or dependent. Being a parent or carer is one of them most demanding jobs there is. Children need to learn how to be strong‚ to develop the ability to make decisions‚ and be responsible and trustworthy. They should learn how to love and be loved‚ to care about people and show respect
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STUDY UNIT 2: ESTABLISHMENT AND FINANCIAL STATEMENTS OF A PARTNERSHIP PARTNERSHIP - A partnership is a legal relationship which arises when an agreement is entered into by two to twenty people. Each partner contributes something – cash‚ assets‚ knowledge etc to the business with the aim of making a profit which is shared according to an agreement. 2.2 Reasons for forming partnerships o To increase the amount of capital in the business o To eliminate competition o To bring capital and
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In order to work effectively with children‚ young people and their families and so that we can plan for and meet their needs‚ it is essential to establish good relationships with a number of people. An example of these are seen below: Between Early Years Practitioners and a child‚ communication is essential to build children’s confidence. Promoting good behaviour and being a positive role model in the work setting is vital to bond relationship to interact with others‚ helping a better settlement
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5- Working in Partnership Name of Student: Beatrice Folasade Araromi Student ID number: P1013574. Group 52 Lecturer- Zafar CONTENTS Introduction ……………………………………………………………………………… LO1: Understand partnership philosophies and relationships in health and social care services 1.1 Explain the philosophy of working in partnership in health and social care 1.2 Evaluate partnership relationships within health and social care services LO2: Understand how to promote positive
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PARTNERSHIP Partnership is defined as a relation between persons who have agreed to share the profits and losses of a business carried on by all of them or any of them acting for all‚ on a pre agreed profit sharing ratio. The main types of partnerships are general partnership‚ limited partnership and Joint venture. General Partnership is a partnership in which all the partners share equal responsibilities and liabilities in the partnership firm/company. The main characteristic of general partnership
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