Deficiency of a partnership deed
In the deficiency of a partnership deed, how are mutual relations of partners managed? Answer: In the absence of Partnership deed, the mutual relations are managed by the Partnership Act, 1932.
In the deficiency of a partnership deed, how are mutual relations of partners managed?
Answer: In the absence of Partnership deed, the mutual relations are managed by the Partnership Act, 1932.
Cash Management: Cash Management is the management of cash balances of a concern in such a way as to maximize the accessibility of cash not invested in inventories or fixed assets and to ignore the risk of insolvency. According to Keynes there are thr
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Business combination in which the acquiring corporation buys all the assets of the target, recording them at fair market values. The target is absorbed into the acquiring corpora- tion, and has gains on the sales of the assets that appear on its last tax return. In ad
Direct Cost: The cost of resources directly used by an activity. The direct costs are assigned to actions by direct drawing of units of resources used by individual actions. A cost which is particularly recognized with a single cost o
List the items that might appear on the debit side and credit side of a partner's fluctuating capital account. Answer: On debit side: Drawing, interest on drawing, c
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Responsibility Center: It is an organizational unit headed by the manager or a group of managers who are responsible for its actions. The responsibility centers can be measured as revenue centers (that is responsible for revenue or sa
Performance Measurement: A means of computing effectiveness, efficiency, and outcomes. A balanced performance measurement score-card comprises financial and non-financial measures focusing on the quality, cycle-time, and price. The performance measure
The rights of each partner: Under the Partnership Act, partners have the right to: Share equally in profits and losses; Indemnity; Interest on advances; Interest on capital; Share in management of
The operating level at which the total sales revenue equals the total cost. Total sale revenue is equal to the price per unit times the number of units sold. Total cost equals total variable cost, the number of units sold in time the variable cost per unit and the tot
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