--%>
Assignment Help - homework help

Define partnership

A partnership is stated as ‘the relationship which subsists among persons carrying on business in common with a view togain or profit’

   Related Questions in Managerial Accounting

  • Q : Define Opportunity Cost Opportunity

    Opportunity Cost: The value of the substitutes foregone by approving a particular strategy or utilizing resources in a particular manner. Al so termed as Alternative Cost or Economic Cost.

    		•
  • Q : Reasons for favoring partnership deed

    Give reasons in favor of having a partnership deed. Answer: A) In situation of any dispute or doubt, Partnership deed is the gui

    		•
  • Q : Deficiency of a partnership deed In the

    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 b

    		•
  • Q : Why you want to be an accountant Why

    Why you want to be an accountant? Normal 0 false

  • Q : Explain Operating Budgets Operating

    Operating Budgets: It is a financial document which aids a business in making significant decisions regarding its actions. An operating budget does not contain instant impact on the actual state of the business and exhibits only future projections. Bu

    		•
  • Q : Illustrate the general role of

    Briefly illustrate the general role of accounting?

    		•
  • Q : Partners-firm and firms name What do

    What do you understand by the terms partners, firm and firms name? Answer: The persons who have entered into a Partnership with each other are individually termed 'P

    		•
  • Q : What is Controllable Cost Controllable

    Controllable Cost: A cost which can be influenced by the action of responsible manager. The word always refers to a particular manager as all costs are controllable by somebody.

    		•
  • Q : What are the steps involved in Process

    ACCOUNTING PROCESS:  The process of Accounting involves the following steps:

    Q : Explain Responsibility Segment

    Responsibility Segment: A noteworthy organizational, functional, operational, or process component that has the characteristics as: (i) Its manager reports to the entity's top management;