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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Title IX. - PARTNERSHIP CHAPTER 1 GENERAL PROVISIONS Art. 1767. By the contract of partnership 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. Two or more persons may also form a partnership for the exercise of a profession. (1665a) Art. 1768. The partnership has a judicial personality separate and distinct from that of each of the partners‚ even in case of failure to comply with the
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Trading The 2002 Enron and the WorldCom scandals are two perfect examples of unethical accounting practices. While Enron was accused of a lot of shady dealings that included concealing debts in order keep them from being reflected on the company’s accounts‚ WorldCom’s accounting practices were so fraudulent that the company was led into the largest bankruptcy in history of mankind. Because of the unethical accounting practices and scandals of Enron and the WorldCom‚ the U.S. government had to get
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Ethical Issues in the workforce [pic] Stephanie Wilcox Bus 610 Kathleen Henry June 6‚ 2011 Ethical issues in the workforce In my own opinion ethical issues are a major concern because of the people trying to sell products. They have to build trust and integrity with their employees and consumers about their product. According to Knicki & Kretner‚ “ethics involves the study of moral issues and choices” (Knicki & Kretner‚ 2009‚ pg.23). Knicki
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Finals Reviewer INTRODUCTION Brief Historical Background PARTNERSHIP 1st Sem; 2003 the Roman law‚ the law merchant and equity‚ and the common law courts. Governing law in our jurisdiction Before the new Civil Code‚ commercial or mercantile partnerships were governed by the Code of Commerce and non-commercial or civil partnerships by the old Spanish Civil Code. The new Civil Code superseded the old Civil Code and expressly repealed in toto the provisions in the Code of Commerce relating
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Company‚ SA This work was a part of Master thesis presented in Faculty of Pharmacy‚ AlAzhar University‚ Egypt 2007 INTRODUCTION Hot Melt Hot melt agglomeration is one type of wet granulation techniques that may be utilized to enhance the dissolution profile of water insoluble drugs. Hot melt agglomeration is also called thermoplastic granulation and it may be defined as the process in which the granulation is achieved via utilization of granulating agent which is in the solid state at room
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Cited: Ackman‚ Dan. "The WorldCom We Hardly Knew." Forbes. Forbes Magazine‚ 26 July 2002. Web. 13 Dec. 2012. Aguilar‚ Rose. "Yahoo IPO Closes at $33 after $43 Peak." CNET News. CBS Interactive‚ 12 Apr. 1996. Web. 11 Dec. 2012. Blank‚ Steve. "New Rules for the New Internet Bubble
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management. The creative use of financial statements even tricked analysts and brokers. Public trust began to erode with unethical corporation behavior. Analyst’s suspicions of some corporations cooking the books were confirmed with an announcement from WorldCom. The public’s distrust started to mount while accusing brokers of hyping stocks. People began to invest without brokers’ advice. With numerous risks rising for individual investors‚ Congress passed the Sarbanes-Oxley Act and the SEC responded by
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Corporate Scandals: How Greed Consumed the American Dream Enron is not even at the top of the list. More and more corporate scandals are happening in America. Why have these scandals just shown up in recent years? What causes these corporations to lie and be deceitful towards investors? Though once seen as legitimate‚ fair‚ honest‚ and respectable‚ corporations have arrived at a stage of greed and deception. This can be explained by a number of factors such as the how the stock market works‚ the
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charges as well as those in the corporate world are not protected. The term "piercing the corporate veil" become a household phrase thanks to Bernard Ebbers‚ former WorldCom boss. In 2005 Bernard Ebbers was sentenced to 25 years in prison‚ one of the toughest sentences imposed on an executive‚ for overseeing the $11 billion WorldCom Fraud. Three years earlier the fraud came to light reducing the shares of stock worth more than $50 to a few pennies. This was not a minor fraud. Ebbers committed
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