--%>
Assignment Help - homework help

Features of partnership

Write some main features of partnership?

Answer: Essential elements or major features of Partnership are as follows:

A) Two or more persons: Partnership is a relationship of two or more persons.
B) Agreement: Partnership is established by an agreement either orally or in writing.
C) Lawful Business: The Partnership made for the reason of carrying a business; it should be a legal business.

   Related Questions in Managerial Accounting

  • Q : Understandability-Accounting information

    What do you mean by the term Understandability which is accounting information?

    		•
  • Q : Define Avoidable Cost Avoidable Cost :

    Avoidable Cost: The cost related with an activity which would not be acquired if the activity were not executed.

    		•
  • Q : Cash shortage/overage An income

    An income statement item that represents the difference between the actual cash amount and an accounting measure of how much cash there should be. The most common example exists in a retail situation where the cash in the cash register is compared to the register tape

    		•
  • Q : Management Accounting Project Please

    Please let me know the cost of getting this assignment completed?

    		•
  • Q : What is Direct Cost Direct Cost : The

    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

    		•
  • Q : Planned product cost and the actual cost

    A company has production facilities in several countries. Some of the products they sell are produced in stages (Raw Materials -> Pre-Assembly -> Assembly -> Finished Product) based on the technologies and materials involved (see Table 1).

    Q : Management accounting-scope Write down

    Write down the scope of Management accounting?

    		•
  • Q : Fundamentals of Accounting Assignment

    Assignment 1: A adjusted Trial balance table given below: Southwest Business School

    Q : Define partnership A partnership is

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

    		•
  • Q : Explain Activity-Based Costing

    Activity-Based Costing: It is a cost accounting process that measures the cost and performance of process related activities and cost objects. It assigns cost to cost objects, like products or customers, based on their utilization of

    		•