Yes, a partner can be expelled from a partnership under certain circumstances, typically outlined in the partnership agreement. The process for expulsion usually involves a vote by the remaining partners. Rights and liabilities of an expelled partner will depend on the specific terms outlined in the partnership agreement, but generally, the expelled partner may have the right to buyout their interest or may be entitled to receive their share of the partnership's assets. However, they may also be liable for any outstanding partnership debts or obligations.
Yes. A partner can be expelled (called dissocation under the Uniform Partnership Act or Uniform Limited Partnership Act) for (1) doing something unlawful or against the best interests of the partnership; or (2) a violation of the partnership agreement. The partner continues to be liable for his or her acts or omissions that occured before dissociation, or for proximately-occuring consequences thereafter, and may have rights to a distribution of a partnership share at winding up of the partnership.
Debits. Liabilities have credit balances so a debit will reduce such a balance.
Yes. Liabilities have credit balances, so a debit will reduce a credit balance.
Assets= Capital+Liabilities So Assets=? Capital=100000 Liabilities=20000 Then Assets=100000-20000= 80000/-
Total equity does not include total liabilities so both are not same
Basic Accounting Equation: Assets = Liabilities + Owner's Equity Assets = Current Assets + Fixed Assets Liabilities = Current Liabilities + Long-term liabilities So Assets = Liabilities + Owner's Equity then current assets + fixed assets = current liabilities + long-term liabilities + owner's equity 2230 + 9900 = 1380 + 4040 + owner's equity 2230+9900 - 1380 - 4040 = owner's equity 6710 = owner's equity
Do you mean: can a bank balance be a liability? If so, yes. If a bank balance is an overdraft then that balance should be shown in current liabilities.
NET WORTH! no one answered our question so I did!
Basic accounting equation = assets = liabilities + capitalit is so because capital as well as other liabilities have to be paid by the business at the dissolution time of business and at dissolution time or liquidation time business must have assets equal to liabilities plus owner's equity to pay all liabilities of business without going insolvent otherwise business will become insolvant and somebody will not get all it's liabilities completely cleared at the time of liquidation of business.
No, but you can get expelled from your school for doing so.
To become a business partner in the Sims 3, all you have to do is click on the place that you want to partner and click the interaction "Become Partner for $......." To become a partner costs A LOT of simoleons so make sure you have enough money to do so.
A Lioness is a female Lion, so her partner would be a Lion.
it's mean that total assets and total liabilities are equal for example: total assets are 50,000 and total liabilities are 50,000 so the debt ratio is 1