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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.
The company was launched in 2014. [1] Its name, Vedantu, is derived from the Sanskrit words Veda (knowledge) and Tantu (network). [2] The organization is run by IIT alumni Vamsi Krishna (co-founder and CEO), Pulkit Jain (co-founder and head of product), Saurabh Saxena (co-founder) and Anand Prakash (co-founder and head of academics).
Social accounting (also known as social accounting and auditing, social accountability, social and environmental accounting, corporate social reporting, corporate social responsibility reporting, non-financial reporting or accounting) is the process of communicating the social and environmental effects of organizations' economic actions to particular interest groups within society and to ...
Given the above, one view of the progression of the accounting and finance career path is that financial accounting is a stepping stone to management accounting. [16] Consistent with the notion of value creation, management accountants help drive the success of the business while strict financial accounting is more of a compliance and ...
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 ...
According to the All India Council for Technical Education, 1987, the AICTE is vested with statutory authority for planning, formulation and maintenance of norms and standards, quality assurance through school accreditation, funding in priority areas, monitoring and evaluation, maintaining parity of certification and awards and ensuring coordinated and integrated development and management of ...
Arms expenditure regarded as intermediate consumption could, according to this accounting treatment, only refer to sales or exports in a different accounting period. If weapons were sold during the same year or a quarter, this necessitated "counter-intuitive" entries in the accounts for government (a capital addition is cited as a capital ...
Boron's chemistry does allow it to form complexes with such important molecules as carbohydrates, so it is plausible that it could be of greater use in the human body than previously thought. Boron has also been shown to be able to replace iron in some of its functions, particularly in the healing of wounds. [ 54 ]