MGT604 MIDTERM PAST PAPERS

MGT604 MIDTERM PAST PAPERS

Resigned Partner An accomplice who passes on the firm because of specific reasons is known as resigned accomplice or active accomplice. He is responsible to pay every one of the commitments and obligations of the firm caused prior to his retirement.

Prologue to Business – MGT 211 VU © Copyright Virtual University of Pakistan Accomplice in Profits as it were In the event that an accomplice is qualified for get specific portion of benefits and isn’t expected to take responsibility for misfortunes is known as accomplice in benefits as it were.

He isn’t permitted to participate in the administration of the business. Semi Partner An individual, who was the accomplice of a firm however has now resigned from dynamic interest in business and has lef his capital in the business as an advance, getting interest on it, is known as semi accomplice.

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Accomplice by Estoppel An individual who holds himself out as an accomplice of a firm, before an outsider or permits other to do as such, however he isn’t an accomplice of that firm, is gotten down on accomplice by estoppel or holding accomplice. MGT604 MIDTERM PAST PAPERS

He isn’t qualified for any right like different accomplices of the firm. He isn’t qualified for any right like different accomplices of the firm. He is actually responsible to the outsider for the credit given to the firm, on the confidence of his portrayal. MGT604 MIDTERM PAST PAPERS

Sorts OF PARTNERSHIP There are three sorts of association which are portrayed as under. Association voluntarily.Prologue to Business – MGT 211 VU © Copyright Virtual University of Pakistan Accomplice in Profits as it were In the event that an accomplice is qualified for get specific portion of benefits and isn’t expected to take responsibility for misfortunes is known as accomplice in benefits as it were.

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