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In an equal partnership bonus paid to a new partner is distributed equally among the partners. In an unequal partnership bonus is distributed according to the partnership agreement. Assume that Partner A is a 75% partner, and Partner B is a 25% partner. Partner C was admitted to the partnership. He paid $5,000 cash.
An online system named ePathshala, a joint initiative of NCERT and Ministry of Education, has been developed for broadcasting educational e-schooling resources including textbooks, audio, video, publications, and a variety of other print and non-print elements, [18] ensuring their free access through mobile phones and tablets (as EPUB) and from ...
Indian Partnership Act, 1932 shall not be applicable to LLPs and there shall not be any upper limit on number of partners in an LLP unlike an ordinary partnership firm where the maximum number of partners can not exceed 20. The Limited liability partnership (LLP) Act has a mandatory requirement that one of the partners in the LLP must be an Indian.
1) A partnership firm is not a legal entity apart from the partners constituting it. It has limited identity for the purpose of tax law as per section 4 of the Partnership Act of 1932. [24] 2) Partnership is a concurrent subject. Contracts of partnerships are included in the Entry no.7 of List III of The Constitution of India (the list ...
The accounting equation plays a significant role as the foundation of the double-entry bookkeeping system. The primary aim of the double-entry system is to keep track of debits and credits and ensure that the sum of these always matches up to the company assets, a calculation carried out by the accounting equation.
The rare-earth elements patterns observed in igneous rocks are primarily a function of the chemistry of the source where the rock came from, as well as the fractionation history the rock has undergone. [27] Fractionation is in turn a function of the partition coefficients of each element. Partition coefficients are responsible for the ...
In physics and chemistry, a degree of freedom is an independent physical parameter in the chosen parameterization of a physical system.More formally, given a parameterization of a physical system, the number of degrees of freedom is the smallest number of parameters whose values need to be known in order to always be possible to determine the values of all parameters in the chosen ...
The right "to be free from adverse impacts of climate change" was legally recognized as a fundamental right in India by the Supreme Court, in 2024. This decision can impact further climate legislation in India. [67] For achieving the aims of the Paris agreement India must peak power sector emissions by 2026. Until recently the country was ...