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What are the distribution methods that most partnership use?
ownership percentage
In a limited partnership what is profit and loss interest?
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Can a partner force you to sell your half to him?
That may not be possible but it may depend on the terms and provisions in the partnership agreement. However, the alternative may be the dissolution of the partnership, liquidation of all partnership assets, and distribution of shares to all partners according to their partnership agreement (or equally, if no agreement).
What is maximum efficiency condition in distribution transformer?
The maximum efficiency condition in distribution transformer is said to be occurred when iron loss = copper loss
What is the meaning of act ordering common ownership interests profit and loss sharing and shared management responsibilities in a partnership?
Uniform Partnership Act (UPA).
Is partnership deed a public document?
No, partnership deed is not a public document it is mutual agreement among the partners of the partnership firm stating there profit/loss sharing ratios, rate of interest on loan & on capital and salaries/remuneration of the partners etc
What is the rate of tax for partnership firm?
A partnership computes its income and files its return in the same manner as an individual. However, certain deductions are not allowed to the partnership.Go to the IRS.gov website and use the search box for Tax Information For Partnerships Partnership Income or Loss
What is gain and loss in group frequency distribution?
The gain is simplification - of calculation and visual presentation. The loss is of some detail.
What do the highest secondary sector benefit and loss from?
The highest secondary sector benefit is income distribution and loss from lack of market.
Can personal residence be put into a family limited partnership?
No, a family residence should not be placed into a family limited partnership. A family limited partnership must have a business purpose. Putting your family residence into a family limited partnership will result in the loss of the limited liability these entities have, and if used for estate planning purposes, will result in the Internal Revenue Service disregarding the entity completely.
In case of amalgamation of partnership firms any profit and loss on revaluation is transferred to accounts in ratio?
in ratio of their capital account
Is a minor partner liable for the loss of business?
The liability of a minor partner depends on the specific terms of the partnership agreement. Generally, a minor partner is liable for their share of the partnership's losses up to the amount of their capital contribution. However, if the partnership agreement holds the minor partner as fully liable, they may be responsible for the entire loss of business.
