Partnership And Microsoft

Partnership and Microsoft
1. What are some relative advantages and disadvantages of using smaller local partners vs. a large
local partner?
Some advantages that Microsoft might have are that in general partnerships, each participant is
personally responsible for the actions of the company. This includes debts, liabilities and the
wrongful acts of other partners. One advantage of a limited liability partnership is the liability
protection it affords. This type of partnership structure protects individual partners from personal
liability for negligent acts of other partners or employees not under their direct control, states the
SBA. In addition, smaller local partners are not personally responsible for company debts or other
obligations. This is advantageous for ... Show more content on Helpwriting.net ...
Second, organize small teams of overlapping functional specialists. This is a blend of two leading
concepts in new products management today –– have small work groups and have highly skilled
functional specialists. Microsoft has large teams of small teams. At all times functional skills are at
work, and "team members" do not lose sight of their major contribution. Yet, by having an overall
plan, and overall team management, the small clusters are involved across all functions. So the firm
achieves both functional skills and multifunctional operations. They talk about having distinct
functional skills that are overlapped at the boundaries. This gives independence but not anarchy.
Third, pioneer and orchestrate evolving mass markets. This means to be the first, or early, to enter a
market, find and build mass markets, don 't wait for perfect products but build a steam of
incrementally better ones flowing in the direction of the market, and try to lead those markets in
directions favorable to the firm. Fourth, focus creativity by evolving features and fixing resources.
This means giving team's vision statements for general guidance, freedom to implement those as
their skills direct, insisting that developers keep in mind the volume of demand for the features they
are building, and then restricting the total effort by tight restrictions on dollars and time
... Get more on HelpWriting.net ...

Disadvantages Of Partnership
PARTNERSHIP Definition This is a relationship that exists between two or more persons jointly
carrying out a business with the aim of making a profit. A partnership can be temporary or
permanent. A temporary partnership is formed for a specific period or purpose and when that
purpose is fulfilled it's automatically dissolved. A permanent partnership can continue indefinitely.
TYPES OF PARTNERSHIP (i) General partnership This is also known as an ordinary partnership or
an unlimited liability partnership. It is the most common form. Here partners have unlimited liability
partnership. Therefore, if the business is not able to pay all its debts, each of the partners will ...
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Disadvantages of partnership 1. Unlimited liability In case of insolvency, partner private property is
attached to meet the firm's liabilities. 2. Difficulty in making decision Authority is divided and
decision may be difficult to reach. Delays are occasional as all partners have to be consulted which
may lead to lost opportunity. 3. Lack of continuity Continuity is uncertain as departure of a member
leads to dissolution. 4. Sharing of profits Returns may not be proportionate to the capital investment
but to share profits. 5. Frozen investment. Withdraw of a partner is not possible (except, a minor
partner, upon attaining maturity age). This may lead to discontentment, dissatisfaction leading to
lack of commitment. 6. Limited access to capital It is difficult to secure a long term financing. 7.
Any dispute or misunderstanding among partners will result in a loss to the business. 8. There is no
complete freedom of action since each partner must be consulted every time a decision is made.
Dissolution of a

Dispositions of Partnership Interests and Partnership...
Chapter 10 Dispositions of Partnership Interests and Partnership Distributions SOLUTIONS
MANUAL Discussion Questions 1. [LO 1] Joey is a 25% owner of Loopy LLC. He no longer wants
to be involved in the business. What options does Joey have to exit the business? Answer: Joey's two
most common options are to sell or exchange his interest in the LLC to a third party or to have the
LLC liquidate his interest. Joey may also exchange his interest for corporate stock, give the interest
away, or transfer the interest upon his death. 2. [LO 1] Compare and contrast the aggregate and
entity approaches for a sale of a partnership interest. Answer: Under the aggregate approach, the
disposition of a partnership ... Show more content on Helpwriting.net ...
8. [LO 1] Can a partnership have unrealized receivables if it has no accounts receivable? Answer:
The definition of unrealized receivables is broad enough to encompass assets other than accounts
receivable. §751(a) also includes assets that are NOT capital assets or §1231 assets that would
produce ordinary income if sold by the partnership. Items such as depreciation recapture are also
classified as unrealized receivables. Thus, a partnership can have unrealized receivables without
having accounts receivable. 9. [LO 1] How do hot assets affect the character of gain or loss on the
sale of a partnership interest? Answer: Hot assets cause a portion of the gain or loss on the sale of a
partnership interest to be classified as ordinary rather than capital. 10. [LO 1] Under what
circumstances can a partner recognize both gain and loss on the sale of a partnership interest?
Answer: A partner may recognize both gain and loss on the sale of a partnership interest in the
situation where a partner's share of the unrealized gain in hot assets is greater than his total gain or
loss on the sale of his partnership interest. 11. [LO 1] Absent any special elections, what effect does
a sale of partnership interest have on the partnership? Answer: When one partner sells his
partnership interest, the sale

The Key Issues Of Partnership
In this essay I will be discussing what is partnership, what the key issues are and the relevance of the
key issues relating to partnership,I will underpin knowledge and relevant theories and frameworks
that enable us to understand the key issues in partnership, I will explain the relevant values and
principles which underpin partnership, discuss the relevance of a recognised theory or philosophical
approach that contributes to partnership, I shall analyse the provision of equality, diversity and
inclusive practise can be ensured in relation to partnership, evaluate the evidence I collect which
support the beliefs that the key issues identified are relevant to working with children and young
people, the impact of the recognised theory or philosophical approach on practice in the areas of
work covered by partnership and I will then conclude by reflecting on and explaining the
professional skills required to practice effectively in the areas of work covered by partnership
D1–D2
The key issues and the relevance of the key issues that apply to partnership:
"A partnership is an arrangement between two or more groups, organizations or individuals to work
together to achieve common aims."
In the quote above it explains what a partnership is and what it consists of; it clarifies what we need
to build a relationship and what we aim to achieve at the end of a positive partnership.
There are many different people we work in partnerships with such as parents, practitioners,

Partnership Act
IBS Gurgaon A PROJECT REPORT ON The Partnership Act 1932 & Its Registration.
SUBMITTED ON:– SUBMITTED TO:– 9TH January,2012 PROF. UPDESH SINGH SACHDEVA
MONDAY. BY:– ABHISHEK ANAND. 11BSP0010 SECTION– "A" TABLE OF CONTENTS.
TOPIC PAGE NO 1. Acknowledgement ................................................ 3 2.
Introduction......................................................... 4 3. Defination of Partnership
Firm................................. 5 4. Features of ... Show more content on Helpwriting.net ...
Partners may have a Partnership agreement, or declaration of partnership and in some jurisdictions
such agreements may be registered and available for public inspection. In many countries, a
partnership is also considered to be a legal entity, although different legal systems reach different
conclusions on this point. FEATURES OF PARTNERSHIP * Two or more Members :– You know
that the members of the partnership firm are called partners. But do you know how many persons
are required to form a partnership firm? At least two members are required to start a partnership
business. But the number of members should not exceed 10 in case of banking business and 20 in
case of other business. If the number of members exceeds this maximum limit then that business
cannot be termed as partnership business. A new form of business will be formed, the details of
which you will learn in your next lesson. * Agreement:– Whenever you think of joining hands with
others to start a partnership business, first of all, there must be an agreement between all of you.
This agreement contain so the amount of capital contributed by each partner; * profit or loss sharing
ratio; * salary or commission payable to the partner, if any; * duration of business, if any ; * name
and address of the partners and the firm; * duties and powers of each partner; * nature and place of
business; * any other terms and conditions to run the business. *

Limited Partnership : A Partnership
Limited Partnership
A limited partnership is similar to a general partnership. It does have several key differences. While
a general partnership has to have at least 2 general partners a limited partnership has to have at least
1 general partner and 1 limited partner. A limited partner does not run the business. A limited partner
is similar to an investor or shareholder. A limited partnership also should have a partnership
agreement between the general and limited partners.It can be an oral or a written agreement. This
partnership agreement can contain for example; how the business will be conducted,distribution of
labor or how profits are divided.The partnership has to be registered with the Secretary of State
where the business is ... Show more content on Helpwriting.net ...
The partners show their parts of the income or losses and business deductions of the partnership on
their respective personal income tax returns, and each pays taxes on that portion,that is call flow
through. General partners also file a tax reporting information return with the IRS. Limited partners
tax liability will never be more than their initial investment.
Longevity: Since limited partners are investors in the partnership agreement between them and the
general partners there is usually a buy out provision contained in the agreement but not always.
Even if a limited partner decides to leave the business the business still continues. The general
partners longevity is as long as they have a desire to continue to participate in the business. The
written agreement should of course also contain instructions on what is to be done if a general
partner dies,is incapacitated or just simply wants to be bought out of the business.
Control: Limited partners do not participate in any day to day operations of the business.If the
limited partners wish to participate in the day to day operations of the business this can jeopardize
their limited partnership. Since the limited partners are not running the business,they should have
detailed knowledge on the general partners expertise and reputations in running a particular business
prior to making any investments in the business. General partners are the core management structure

Partnership Between General Partnership And A Limited...
istinguish between general partnership and a limited partnership.
General Partnership: is a business formed by one or more partners, who equally share profits and
liabilities for the company. This type of partnership is created by agreement, estoppel, and proof of
existence. The partners or owners are all personally liable for any debts and legal actions that the
business may face. In a general partnership all partners have the ability to actively control or
manage the partnership. Ultimately, each partners has "agency authority "on the partnership, which
means that any partner can legally bind the partnership to a contract.
Limited Partnership: this type of partnership has both general and limited partners. This partnership
requires at least one general partner, who held unlimited personal liability for the debts and legal
actions of the business. The general partners are jointly and severally liability for the all partnership
debts, just like partners in a general partnership. Moreover, general partners are responsible for
control the daily management of business and have authority to legally bind the business to a
contract. This partnership need to filed information about the business and the partner at the
appropriate state agency. On the other hand, limited partners have limited liability, they are only
liability for the debts of the partnership just to the extent of their capital contribution. Furthermore,
limited partners do not play an active role in the

The Four Key Differences Between Project-Based...
BAM 514– International Business Management
Unit # 3
Question #1. Discuss the four key differences between project–based collaborations and equity joint
ventures. As focal firms internationalize they often run into risks that are beyond their capabilities to
overcome by themselves. Consequently, many firms often conclude it makes sense to work with a
strategic partner with capabilities complimentary to their own to achieve certain projects. When two
or more firms come together to manage risks associated with internationalization, they form
international partnerships, or international strategic alliances. By working together, focal firms use
the capabilities, resources or other strengths of their partners to achieve projects they would
otherwise be unable to do alone. There are two basic forms of partnerships, Equity joint ventures
and Project–based collaborations. To understand the differences between these two basic types of
partnerships it helps to understand how each is structured. (S. Tamer Cavusgil, Gary Knight, and
John R. Riesenberger, 2012. International Business: The New Realities. Second edition, page 411).
An Equity joint venture is a traditional partnership in which a new entity is created through the
combination of assets by two or more parent companies. Together, the firms share joint ownership of
the new legal entity. Typically, this may be a result of one firm not having all the resources or assets
necessary to exploit an opportunity, or it may be the only

Partnership
Camisha Booker CA–156: Computerized Accounting 11 Partnership vs Sole Proprietorship March
11, 2014 Thinking about starting your own business? Do you prefer to work alone? Or do you prefer
to work with a partner? If you choose to work with a partner then the best business structure for you
would be the partnership structure. First you must ask yourself; do we have the same vision or
objectives on how to run the business? Are we able to communicate well with each other? Most
important question of all, do you trust this individual? If two of these three questions is no then
maybe the partnership structure isn't for you and you should set the business up as a sole
proprietorship. The partnership business structure allows two or ... Show more content on
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Having discretionary time, more contacts, support and motivation is a big plus when starting a
business. The right partnership has these qualities. When one needs time to spend with family and
friends or even just to get the most important things dealing with the business done, having a partner
is a good ideal because days or weeks can be rotated among the two. By bringing on a partner, you
acquire a new network of contacts and potential customers. If one partner was to died or become
physical impaired while in the partnership agreement the other partner can take over the business
completely or choose to sell the other partner's half of the business (Price, 2012). With sole
proprietorship if the owner becomes impaired or dies the business can result in termination because
there is no one to take over the business (LaMance, 2013) If you are a team player, I say go for the
partnership, but talk things over with your potential partner before making any decisions. Now if
you choose to go in it alone with the sole proprietorship keep in mind that some investors think
businesses started under the sole proprietorship are less professional than any other structure that
consist of two or more people. Works Cited Partnership: Pros and Cons. (2014). Retrieved from
Boundless:

Limited Partnership : A Partnership
Limited partnership
Description
An LP is a form of partnership that has two types of partners: a general partner and limited partners.
There has to be at least one general partner and at least one limited partner in every LP. The general
partner manages the operation of the LP. In addition, general partners are personally responsible for
the liabilities of the LP. Two Advantages
Limited liability for the limited partners in a limited partnership. These partners can contribute the
capital in a partnership without risking their personal assets.
There is no double taxation with limited partnerships, the partners themselves are taxed on their
personal income tax returns for their share of ownership in the partnership, which usually amounts
to less taxation.
Two Disadvantages
There is no limited liability for the general partner in a limited partnership. For the general partner in
a limited partnership, creditors can reach their personal assets. The shares in a partnership cannot be
publicly traded on the stock market which means that if you have a limited partnership you have
limited growth potential.
Liability
Limited partners are shielded from personal liabilities, but they can lose their financial investment in
the limited partnership. Limited partners can lose their status and be held personally responsible for
business liabilities if they are found to be actively involved in the management of the business.
Income taxes
The federal income tax laws recognize a

Advantages And Disadvantages Of Partnership In A Business
Partnership is a type of business organisation in which two or more individuals work in a business.
Investment, profits and loss and other resources are equally shared according to the terms and
conditions of the partnership agreement. In absence of such agreement, a partnership business is
most likely to be a failure. Participants in an enterprise agree to share the associated risks and
rewards equally. The Partnership Act 1890 explains that a partnership is the relation which exists
between people carrying on a business as usual with an aim of gaining profit. (Alan Griffiths &
Stuart Wall, 2008, p133 ) states that "This is a form of business relationship which is usually entered
into by individuals who wish to take advantage of the combined ... Show more content on
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One of it is the unlimited liability of the debts. Unlimited liability is meant by a particular business
involves joint owners that are equally responsible for debt and liabilities accrued by the business
partners are legally responsible for the debts and other liabilities in the business firm
(Investopedia,2017). The responsibility applies to their private assets which the partner has.
(Business law, p88, 2006) Professional liability could not be claimed by full insurance. A partner is
still liable after the partner's death for the debts incurred by the firm when the partner was a legal
partner. If the partner did not notice or inform the retirement in the London Gazette, the partner is
still liable for the debts (Business law, p88, 2009). The solution to solve this huge disadvantage is to
be a limited partner. The liability of the partner is limited for the debts of the business firm (Limited
Partnership Act 1907). However, one partner should be a general partner meaning that, this partner
would be fully responsible for the firm's debt. If one partner does a wrongful act or an exclusion in
the course of the business, the firm is liable for the wrongful act or the omission by the partner
(Partnership Act 1890, section

Benefits Of A Limited Partnership
Limited partnership
Description
A Limited Partnership is made out of one or more broad partners and one or more constrained
partners. The general partners deal with the business and share completely in its profits and
misfortunes. Constrained partners partake in the profits of the business, yet their misfortunes are
restricted to the degree of their venture. Constrained partners are normally not included in the
everyday operations of the business.
Two Advantages
Being a limited partner limits liability; the limited partner is just going to be at risk for the amount
of capital added to the business; a business lender can 't come after the restricted partner 's personal
resources. Another advantage is that it's easier to gain ... Show more content on Helpwriting.net ...
Income taxes
The fundamental tax benefit of a limited partnership is that it is a flow–through entity – all profits
and misfortunes stream specifically to the individual limited partners. The business itself pays no
taxes on its income. The partners declare the the income on their personal taxes.
Continuity of the organization
The coherence of a limited partnership's existence is normally represented by the procurement of the
limited partnership certificate and the conditions of the limited partnership agreement.
Control
Limited partners surrender their choice making right.
No one partner can settle on a business choice without counseling the other GENERAL (which are
considered full) partners, however LIMITED partners do not need to be consulted.
Profit retention
Just as for a sole proprietorship or a general partnership, All profits lawfully belong to all of the
partners (both full and limited) – in their entire sum – and are considered as individual salary by the
IRS. Business profits are therefore are then placed into the highest taxation salary.
C–Corporation
Description
The most common corporation, or C corporation, is a different legal entity claimed by shareholders.
You shape the corporation by recording incorporation files with a state and paying the fees. The
corporate structure limits each proprietor's (also known as shareholders) individual risk for the
business debts to the sum invested in the business by the shareholder.

Advantages And Disadvantages Of Partnership
Partnership
A partnership is an unincorporated business owned by two or more persons associated as partners
(Hemanson etl,2011). These people upon either a written or verbal agreement, could take
responsibility if anything happens within their partnership. Many retail establishments are
partnerships. For instance, dentists, physicians, attorneys and accountants often conduct their
activities as partnership.(Prenhall.com/Horngren). It takes less time to form a partnership for
example one can just ask a friend to partner with him/her in business. Partnerships may operate
under different degrees of formality, ranging from informal, verbal understanding to formal
agreements filed with the state in which partnership does business (L. Gapenski,2007). Usually
partnerships are long term commitments of people doing business together. The people who own a
partnership are called Partners. They do not have to be based or work in the ... Show more content
on Helpwriting.net ...
There are also many disadvantages of Partnerships. In partnerships, sometimes partners disagree and
when they disagree it may be a problem for business. For instance, there may be disagreements as
one may feel has more control of the business because of his large contribution. That is why there is
a need for a deed of partnership before venturing into any business agreements. The other
disadvantage is that partnerships have unlimited liability this means each general partner is liable for
the debts of the firm no matter who was responsible for causing those debts. Division of profits also
means that partners may as well share risks general partners can lose their personal properties and
everything else they own if a business goes bankrupt or loses any lawsuit. Partnerships are also
difficult to terminate– Once one has committed himself to the partnership, it is not easy to get out of
it except through death which leads to automatic termination of the

The Main Difficulties With Multi Agency Partnerships
What are the main difficulties with multi–agency partnerships in safeguarding children? Discuss
with reference to social science literature and official reports.
Safeguarding children can best be described as an action taken to promote the welfare of children
and protect them from harm, this involves protecting children from abuse and maltreatment and
preventing harm to children's health or development. (NSPCC, 2016).
Multi–agency partnerships in safeguarding children look to identify the goals, circumstances and
needs of children, agencies must agree with both the contribution each agency will have Ensuring it
meets the 'every child matters 'guidelines, the main aims are to improve the sharing of information
between the agencies and Oversee arrangements for agencies to work collaboratively in the
commissioning, delivery and integration of services. (Cheminais R, 2009:2).
There are many benefits to working within a multi–agency partnership, it not only allows for
professional views from different professionals from a variety of different professions but it also
allows for an individual to receive specifically tailored help top overcome their own situations in
regards to health and welfare, However despite the benefits to multi–agency partnerships in
safeguarding children there are many difficulties that need to be acknowledged.
This essay will use case studies with reference to social science literature and official reports to
further explain and discuss the difficulties

Relationship Between Partnership And Partnership
When considering most of the law cases filed in court, business law cases have formed greatest
percentage due to their frequency of occurrence. Agreements formed before the start of the business
are broken in the course of running the business which leads to a law case especially for those
businesses operated by more than one individual. Partnership form of business is the most adopted
one at the state level where we have two or more people starting a business where they share profits
and loses equally. I did research on partnership dispute that once occurred due to disagreement on
terms of payments and who were the sole contributors to the business. Partnership involves more
than one party where we can have a general partnership or ... Show more content on Helpwriting.net
...
Due to lack of uniform sharing of profit, a dispute came about from this legal form of business.
(Prat, 2010) While checking on the advantages of partnership form of business, it is believed that it
is the easiest form of business to form as it only requires voluntary agreement between the partners
and the business can be formed. The agreement is not in a fixed form, can be written or oral making
if easier and flexible while forming it. This indicates that there are few legal formalities required
during the formation hence fewer resources used. Since it involves many partners, there is
expectation of high initial capital as compared to other forms of business. This high capital leads to
increased scale of operation for the business which raises its profits. (Goldsmith, 2006) The limited
partners if included in the partnership assist in investing the business from outside the business
hence marketing their business as well as maintaining a competitive advantage. This form of
business incorporates different skills and experts from different fields when they partner to come up
with one business. This improves the management of the business from various skilled people. Risks
experienced in this form of business are shared equally among all partners which reduce the impact
to a single partner. Since there is monitoring of one another functioning in the business, there is
reduced wastage which translates to more efficient functioning of

The Characteristics of Partnership
Partnership is one of the most popular types of enterprise in Vietnam. A partnership is an
unincorporated association of two or more individuals to carry on a business for profit. Many small
businesses including retail, service, and professional practitioners, are organized as partnerships.
Like the other types, partnership contains its own features and characteristics which help to
differentiate itself from the others. First of all, in terms of the number of partners, there are no less
than two partners who are joint owners of the company and carry out business. In addition to general
partner, there may also be limited partners. General partner is required to be individual and will be
liable to all obligations of the partnership with his ... Show more content on Helpwriting.net ...
Another characteristic that belongs to partnership is the division of profits or losses. It is not
essential that all the partners must share the losses also. There may be a provision in the partnership
deed that a particular partner or partners shall not bear losses. The profit is arrived at after providing
for salaries to the partners and interest on capital, if agreed and stated in the agreement. That last but
not least feature of partnership is about the business management. Firstly, it is specified that all
general partners are entitled to act as legal representative of the partnership in carrying out business
activities. Any restriction applicable to general partners in relation to conducting day–to–day
business activities of the partnership will be effective to the third party if this party is informed.
Secondly, general partners will agree on division of their duties in relation to management and
running of the company. If a business activity is carried out by several partners, the decision will be
adopted on the principle of majority. Additionally, the partnership will not be liable to any activity
that is conducted by general partner and outside the scope of business activities of the partnership,
unless otherwise agreed by the partners. Thirdly, the partnership can open one or several accounts
with a bank. The partners' council will appoint one partner who is required to deposit and withdraw
money from those accounts. Lastly,

Partnership And Participation : Partnership
Partnership and Participation
In recent years, development focuses have shifted from leaving the power in the hands of
multilateral organizations to distributing the power to a range of actors. The idea that the
government has the ultimate knowledge and power an out–dated (CCIC, 1). Partnerships and
participation refer to the stakeholders in decision–making for projects and development and how
they interact. These strategies ensure that every one has a voice in decision–making and the project
is being implemented in a fair way. These strategies include all of the international development
agents; NGOs, CSOs, governmental institutions, working in partnerships for international
development. The term 'partnership' is often used to describe the relationship between the
government, civil society, and NGOs in development. It has also been applied to North–South
relationships in development. The International Institute for Sustainable Development sees
partnership as having "the aim to create an infrastructure 'dream team' by combining the best
capabilities of the public (legislation, regulations, social concern) and private (innovation,
efficiency, finances) sectors to find a solution to infrastructure–related public needs" (IISD, 2). In
other words, by combining private and public sectors, we are expanding the range of input and
capabilities in development. Each stakeholder attempts to resolve the same issues, they simply have
different means and approaches to

Partnership In Law Essay
3.2 Partnerships in Law Firms Traditionally, law firms have been structured as partnerships and
most firms have maintained that structure to this day. According to the Revised Uniform Partnership
Act (RUPA), a partnership may be defined as "an association of two or more persons to carry on as
co–owners a business for profit" (National Conference of Commissioner on Uniform State Laws
1997). All partners are legally entitled to manage the operations, obtain a share in the profits and are
personally liable for any debts incurred in the business. Day–to–day operational decisions can be
made by majority vote, however, major decisions, e.g. a sale of assets, a change in the nature of the
business or the admission or removal of a partner require ... Show more content on Helpwriting.net
...
Two–tier partnerships took off in the 20th century. Also known as the non–equity partnership, these
professionals do not have an equity interest, but they may have some say in firm governance and
administration. In the next section, we will look at the various relationships that a lawyer encounters
between its key stakeholders. 4.0 Methodology In the development of a framework for a lawyer's
stakeholder relationship, the following guidelines are considered: Identify the internal and external
stakeholders Internal stakeholders are persons who are already committed to serving an organisation
as board members, staff, volunteers and donors. External stakeholders are the people who are
impacted by an organisation's work, as clients and constituents, community partners and many
others. Map key stakeholders based on relative influence Key stakeholders were mapped based on
an assessment of scenarios in terms of how the key stakeholders would behave in them. The
following framework (Image 1) was developed based on the execution of the steps mentioned
above. Image 1: Framework of Law Firm Sample relationships Lawyer –> Guardian –>Ward
Lawyer –> Lawyer –> Lawyer –> Lawyer –> Lawyer –> Lawyer –> Lawyer –> Lawyer –> Lawyer
–> https://ms–jd.org/blog/article/law–firm–partnership–models–what–you–need–to–know 5.0
Discussion 5.1 The Lawyer–Client Relationship The

Working in Partnership in Social Care
Unit 505 Working in partnership in Health and Social care or children and young people's settings
Outcome 1 1.1 Identify the features of effective partnership working A partnership is an arrangement
between two or more groups, organizations or individuals who work together to achieve common
aims or who have common interests. It is sometimes applied to situations where one powerful
organization is doing no more than consulting with others, or where one organization is simply
buying something off another. Partnerships usually have the following characteristics ... * All the
parties involved have some sort of personal stake in the partnership * All the partners are working
towards a common aim * The partners have a ... Show more content on Helpwriting.net ...
And to plan service strategies, working together, that enable packages to be delivered. Well planned
partnerships are one of the best ways of improving the quality of services particularly to vulnerable
individuals whose needs may otherwise be neglected. Example of partnership working: In 1993 The
Wessex project was set up by local Social Services, probation service, prison service and NHS. It
aimed to ensure that offenders with mental health problems started using community services as
soon as they were released from prison. In the early stages the different agencies found it hard to
respond in a co–ordinated way to individual's needs because they were too focused on their own
professional agency's perspective. During the project, it was found that a lot more people had mental
health problems than was first known. Around one quarter of people in prison were found to have a
history of mental health problems and one third of those on remand. After 3 years, the barriers had
been broken down and agencies were working alongside one another. Networks were developed to
exchange information and partnership working had become routine. The formal partnership
structure was no longer necessary and was dissolved. The Health and Social Care Act 2008
established the Care Quality Commission regarding the management of adult social care providers.
They set codes of practice which in April 2010 became outcomes.

Work In Partnership
Work in partnership in health and social care 1.1 Identify the features of effective partnership
working. A partnership is an arrangement between two or more groups, organizations or individuals
to work together to achieve common aims. Features of this are that; All the parties involved have
some sort of personal stake in the partnership; All the partners are working towards a common aim;
The partners have a similar ethos or system of beliefs; The partners work together over a reasonable
period of time; There is agreement amongst the partners that a partnership is necessary; There is an
understanding of the value of what each partner can contribute; There is respect and trust between
the different partners. 1.2 Explain the importance ... Show more content on Helpwriting.net ...
Clear responsibilities and lines of communication lead to successful partnership working. Shared
records like written, email, fax, face to face; working effectively together with people like
professionals, agencies and organisations to enhance the wellbeing of service users and support
positive and improved outcomes. 1. The essence of a partnership is that it is collaboration amongst
equals, with the recognition that by working together the outcome will be better than it would
otherwise have been with any one party working alone. 2.1 Explain own role and responsibilities in
working with colleagues. In the home it is my responsibility to : Establish leadership, roles and
responsibilities early on. Communicate. Make sure that the key points of contact within your
partnership organisations are kept informed, and remember to ensure you have contacts for everyone
you might need to speak to. 2.2 Develop and agree common objectives when working with
colleagues, Invite involvement at the start: When you are developing your ideas. Staff may be able
to advise you on potential difficulties, the logistics of certain aspects of your activity and may have
ideas that you might never have thought of. Getting them involved at the start ensures that their
needs and expectations are taken into account in any activity you plan. 2.3 Evaluate own working
relationship with colleagues. What's in it for

Disadvantages Of The Partnership Act 1891
According to the Partnership Act 1891 (SA), section 1(1), a partnership is defined in four sections.
These sections relate to a business which includes any trade, occupation or profession that is
carrying on involving continuity and system in common in terms of mutuality of rights and
obligations with all the partners, and lastly with a view to profit, therefore resulting in an
incorporated limited partnership. A corporation, however, is defined as a separate legal entity from
its owners that also has the rights and responsibilities that an individual or a partnership entity
possesses. This means that corporations and their shareholders have the right to participate in the
profits, but will not be held accountable for the company's debts and legal issues.
The advantages of a partnership are generally about the financials of the structure, whereas the
disadvantages tend to be more towards the liability of the partners involved. Comprehensively, the
advantages consist of the formation of a partnership which can be relatively simple as it involves an
express agreement in the form of a written agreement, usually acknowledged as a deed, or an oral
agreement. Partnerships can also be formed with no express partnership agreement, via implication
or conduct where the courts have held a partnership existed from the conduct of the parties.
Nevertheless, this meaning is unclear as negative rules exist also, for instance section 2(1)(a–c) of
the Partnership Act 1891 (SA) which state

Business Structure Of A Partnership
QUESTION 1
Introduction
There are many different structure of business in our economy, like sole traders, joint ventures,
syndicates, partnerships and corporation. Each structure of business has its own advantages and
disadvantages. In following paper, I will compare the advantages and disadvantages using the
business structure of a partnership and a corporation, and discuss where using one of these structures
would be preferable to the other one.
A Partnership is a business formed and operated by more than one person and less than a certain
amount of people together with the objective of making profits . James LJ in Smith v Anderson
(1880) 15 Ch D 247 at 273 saw the concept in the following way: "An ordinary partnership is a
partnership composed of definite individuals bound together by contract between themselves to
continue combined for some joint object, either during pleasure or during a limited time, and is
essentially composed of the persons originally entering into the contract with one another." A
corporation which is also named as company is an artificial legal person separated from their
shareholders who own the company and board of directors who runs the company . The biggest
difference of a company compared to a partnership is that although shareholders can be the owner of
the company by purchasing its share, company owns its debts and assets as a legal person where a
partnership is not a separate legal entity.
Establishment
Partnerships are relatively easy to

Advantages And Disadvantages Of Limited Partnership
MEANING OF A LIMITED PARTNERSHIP There are two types of partnerships one of them being
limited partnership. Limited partnership is a type of partnership in which at the minimum one of the
owners of a business is a limited partner and at least one of the other partners has limited liability,
that is, he/she is a limited partner. Unlike general partners who are involved in every aspect of the
business from making day to day business decisions to being personally responsible for all the debts
of the business, limited partners are just investors in the business venture and therefore have very
little to no influence at all on the everyday operations of the business. Advantages of a Limited
Partnership Some of the advantages of a limited partnership include the following: Tax benefits –
limited partners get a share of the profits as well as the losses of the business but an advantage to
them is that they do not have the responsibility of running the operations of the business on a day to
day basis like the general partners. Personal income of all the partners is taxed but a limited partner
has lesser liability and responsibility compared to a general partner. Liability limits – the liability of
a limited partner for a debt owed by the partnership is only limited to the level of the partner's
investment in the business. No turnover issues – a partnership will remain intact and in operation
even if a limited partner decides to leave or is replaced by another partner. There is

Companies And Partnership Law Assessment
Companies and partnership law assessment Question1: Liability is made of contractual liability and
tort liability. Creditors have only one opportunity to sue partners who have jointly liable for
contractual obligations . However, creditors can sue several times in tort liability. There are different
situation in the contract about the liability. Firstly, if the partner signs contract with actual authority
and for purpose of the partnership , so all partners have jointly liable . Secondly, if the partner signs
contract without the notice of another partner, but the third party trust him to sign the contract
(apparent authority) in the usual way of this kind of partnership business, therefore all partners have
jointly liable . Finally, if ... Show more content on Helpwriting.net ...
For example, if a company have lots of liabilities, he as a limited partner has no authority to pay the
liabilities using own assets like house. If a limited partner takes an active role in the company, he or
she may be become personally liable. Based on the PA, the requirements of this part relating to the
limitation on the liability of a limited partner may not be diversified by the partnership agreement or
the consent of the partners. Word count: 158 Question 3: Issues: The issues are whether Oola, Spike
and Tex are partners and who is liable for Reena's costs. Rules: A partnership is the relation which
exists between persons carrying on a business in common with a view of profit. Business includes
any trade, occupation or profession. A relationship subsists profit sharing which means that it is a
partnership. (It is strong indicator but not definitive) All partners liable for any wrongful act or
omission of any partner acting in the ordinary course of the business of the firm, or with the
authority of the other partners. Every partner in a firm other than an incorporated limited partnership
is liable jointly with the partner 's co–partners, and also severally. Application: Existence of
partnership Oola, Spike and Tex are persons that have some sort of relationship, but the other
elements of the definition in s 1 (1) PA also needs to be present: –Carrying on business: Based on s 1
B (1) PA "Business" includes any

The Appeal of the Limited Partnership
The Appeal of the Limited Partnership "Flow Through Vehicle" in First Nation Venture Structuring
Presented by:
Malcolm P. MacPherson
Barrister & Solicitor
Principal | Vancouver Business Law
▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀▀
Suite 1200 – 543 Granville Street
Vancouver, BC, V6C 1X8
Tel: 604.629.8904
Cell: 604.928.4202
Fax: 604.629.8523
Email: mpm@vancouverbusinesslaw.ca
Website: www.vancouverbusinesslaw.ca
1. Introduction
1.01 General Overview
In British Columbia, there are three forms of partnership that may be entered into, namely: general
partnerships, limited partnerships, and limited liability partnerships. For today's purposes, I will
focus on the limited partnership, which is less commonly used than the corporation ... Show more
content on Helpwriting.net ...
It is worth spending a few moments discussing the role of the certificate of partnership in the limited
partnership. This is because the certificate of partnership sets out contributions which are to be made
by limited partners pursuant to the limited partnership. As it happens, the liability of a limited
partner is limited by the amount of their contribution set out in the partnership certificate, and not, as
one might expect, in accord with the actual amount of their contribution.
Accordingly, the liability of a limited partner for the obligations of the partnership will be limited to
the contribution made or agreed to be made by the limited partner pursuant to what is actually set
out in the certificate of partnership. So, for example, in the event the partnership incurs significant
liability, if a limited partner contributes more money than what is set out in the certificate of
partnership, then this partner will be liable for that amount in excess of the stated amount on the
certificate of partnership. Similarly, if the partnership incurs significant liability, and if a limited
partner has not yet fully invested their contribution set out in the certificate of partnership, this
limited partner will be liable to the creditors of the partnership for that portion of the unfunded

contribution.
As a

Partnership Essay
Assignment Content | Chapter 1 | First Question | Chapter 2 | Second Question | Chapter 2.1 |
Characteristics of "Partnership" | Chapter 3 | Third Question | Chapter 3.1 | Characteristics of
"Business Environment" | Chapter 3.2 | Characteristics of "Porter's Five Forces" |
ADIL ZHAXYLYKOV
TP029709
UCFF1207(G2–T2)
BM004–4–0 ITB
1. What would be the aims and objectives of the business Luke is planning to implement after
graduation?
The main aim of the Luke's business idea is to provide lessons to people especially older people, on
how to use the internet and e–mail. He would like to eliminate the "fear" of going back into the
workforce among older people and has decided that he will provide hands on experience of the ...
Show more content on Helpwriting.net ...
Disadvantages of "Partnership": * Unlimited liability; * Decision making is not easy; * Business
continuity is not ensured; * Limited expansion ; * Share of control; * Profit sharing.
I've just explained main characteristics of "Partnership" even if it has some disadvantages I consider
that this type of organization most appropriate for Luke's project. As we know he feels lack of
business knowledge and also fears that he might not have sufficient funds to start up that's why he
anyway needs partner's support.
(502 words)
3. In your opinion, what forces in the business environment could potentially affect Luke's business?
We know that the main idea of Luke's business project is providing IT lessons by his self, however,
he is going to set up this project in partnership with his housemate Eric although that type of
organization is most appropriate it has some forces which could potentially affect to his business. A
business doesn 't exist in a vacuum: environmental forces can affect businesses positively by driving
sales, or they can cause negative effects by increasing the cost of goods sold or by increasing a
business 's overhead. A business depends upon its ability to generate a profit despite the external
factors affecting it. While most environmental forces may be outside of a company 's control, it can
still succeed as long as

Advantages And Benefits Of Partnership
Question_1 A. The advantages of partnership: 1. Relatively easy and cheap to establish and dissolve
the business. Different with company, the forming of partnership is very easy, without any approval
and registration. People may decide to create a business together and probably have formed a
partnership. They even probably created partnerships without realising if they are partners. The most
important thing is the true relationship between the parties who agreed to start a business. However,
a good agreement may be needed to set up a good partnership, however, it will not cost so much.
Some of the important things need to be included in a good agreement are: names and addresses of
the partners, name and address of the business, start ... Show more content on Helpwriting.net ...
4. Partners are having fiduciary duties to each other. According to s 28 (1), the partners have access
to the firm's book or report so they know how the business is going, s 29 (1) deal with the
accountability of the partners who act for their own profits, and s 30 (1) restricts the partners from
competing the firm's business. The Birtchnell case shows that a fiduciary relationship will exist only
if the parties act for joint advantages only. 5. Attracting employees to become a partner. One of the
incentives that given to the employees of the firm is the fact that they may be invited to become a
partner if they perform well, because it is easy to change the structure of the partnership. 6. Easy to
make up and change the agreement. Agreement in partnership is not compulsory, however, even if
the agreement has been set very well, it is still possible to make up or change the agreement. For
example, changing the proportion of the contribution made by the partners or there is changes in the
composition of the partners (in or out). 7. The ability to split income at the level of ownership and
shared responsibility. The income of the partnership will be split to each partner. This means that the
partnership as well as the partners can lodge the tax return, so they may be getting tax return twice.

Writing Partnerships
The article entitled, "Writing Partnerships", is incredibly insightful when it comes to informing
teachers about a revolutionary idea revolved around writing workshop. This idea proposes that
teachers assign each student a writing partner and they work together to encourage each other in the
writing process. By having students participate in such a way, allows the teacher to walk around and
monitor the writing process without being bombarded with thousands of questions that students
have about their individual writing pieces; that's what the writing partner is for. The article talks
about the different ways that this can be conducted, such as teachers could pair students together of
opposite gender, teachers could pair students up based upon ... Show more content on
Helpwriting.net ...
This individual conferencing would be five minutes maximum with each student pair, but would
give me an idea of where students are struggling. If I notice that on a particular aspect of the writing
topic, I will then address this issue with the class to ensure that everyone understands. Overall, this
idea is phenomenal on paper, but I would want to see it in action before I committed it to my own

The Structure Of Partnership And A Corporation
This essay states that a business using the business structures of a partnership is different from a
business using the business of a corporation in following ways from the listed content. Also,
advantages and disadvantages of these two structure will be compared.
1. Objectives
2.Liability .
3.Continuity of existence
4.Limits on size
5.Formation & Costs
6.Auditors
7.Taxation
1. Objectives
There are some differences between the objectives of the structures of partnership and a corporation.
Firstly, intention of a partnership is making a profit. Partnership is the relation which maintain
running a business between persons with a same goal of profit and includes an incorporated limited
partnership. However, the relation between the person who was involved in the company or league
is either incorporated under the Corporations Law or abide by one of following laws – the Act of
Parliament, letter patent or Royal Charter is not a partnership this Act meaning for. In terms of a
corporation, it is not only confined in its objectives of profit but also more than for profit. In
addition, it shows that a person who carry on business of a body corporate has more profit of who
involved in the body.
2.Liability
In a partnership, each of the partners have unlimited liability for the debts of the business
partnership. Partnership can be created only at least one person has unlimited liability, giving
semblable protection as owners of a corporation. A partnership is not a

Work in Partnership
Unit M2c Working in partnership in health and social care or children and young people's settings 1.
Understand partnership working 2.1 Identify the features of effective partnership working. One key
motivation for working in partnership is to achieve more than could possibly be achieved by any
stand–alone organisation – the whole being greater than the sum of the parts. Characteristics of
successful partnerships: * Fill knowledge and skills gap–learning and innovation are connected to
the development of successful partnership, particularly when these partnerships are designed – as in
health and social care – to tackle complex, interlinked issues, which individual organisations have
failed for years effectively ... Show more content on Helpwriting.net ...
Assessments, care plans, reviews and surveys are very supportive to identify how you can jointly
improve your impact on the lives and well–being of people who use services, residents and carers.
1.4 Explain how to overcome barriers to partnership working. By working in partnership I have to
be aware about potential barriers which can affect the effectiveness of collaborate. These examples
of why partnerships may not work: * One partner manipulates or dominates. * Differences of
philosophy and ways of working. * Lack of communication. * Unequal and unacceptable balance of
power and control. * Hidden agendas. * Agendas which are not compatible. * Some partners
brought in late. The factors outlined above will occur in more or less degrees in many types and
levels of partnership. The first defence against them is knowledge – and open acknowledgment
within the partnership – of their existence. Thereafter, partnerships will need to identify those factors
which they can and cannot control and take action on aspects within their power. Armistead and
Pettigrew (2004) described "partnership viruses", which may be caught from founding members
who unwittingly carry poor practice and poor skills into partnership, or from new members or via
environmental influences external to the

Intro to Partnership Law
WEEK 1 – PARTNERSHIP LAW TYPES OF BUSINESS STRUCTURES (Ch. 1) I. Sole
proprietorships Preferred choice for small–scale businesses that do not require much capital a.
Exclusive control and management over business b. Full liberty to make decisions, i.e. hiring,
borrowing, etc c. Relatively easy to set up (low costs, minimal formality) d. Not a separate legal
entity, therefore, owner's business assets = personal property e. Unlimited liability f. Restricted
financing (own funds or own creditworthiness for loans) II. Partnerships Partnership Act: a
relationship between two or more persons carrying on a business with a view to profit. Companies
Act – more than 20 partners not allowed, ... Show more content on Helpwriting.net ...
a) Payment of debt from profit * Profits can be used for the repayment of debt or other liquidated
amount. * Differentiated from s2(3)(d). The debt here is a fixed amount. * Even salvage operations
where there is some restructuring to give creditors greater control over the business does not make
them partners. b) Profit sharing as wages or agency fee * Remuneration packages varying with
profits given to employees to boost productivity DOES NOT make them partners. (similar rule for
agents who receive a percentage of profits/sale) c) Annuity * Fairly common for partners to
incorporate a provision into their agreement that allows the dependants of any partner (upon his
demise) to be paid an annuity from the partnership's profits. This does not make the dependant a
partner. * This is a preferable situation to having the dependants lay a claim to the assets of the
partnership, and having to face the consequences of such a claim. d) In payment of loan or interest
on loan * This provision protects bona fide creditors who choose to receive their interest (or money
loaned) as a percentage of the firm's profits. * Overlap with s2(3)(a)?? NOT TRUE. Under s2(3)(a),
the debt need not be a loan and the amount ultimately payable is related to the principal debt rather
than

The Collaborative Approach Of Partnership
Partnership is "a collaborative relationship between entities to work toward shared objectives
through a mutually agreed division of labor" (Partnerships: Frameworks for working together,
2010). The collaborative approach of partnership work provides a huge range of services to children,
young people and areas, this approach enables professionals to reflect back on their personal
performance and one another's so they know how to communicate in a suitable manner and deliver
the best service possible to the public. Huxham attaches the phrase 'collaborative advantage ' (1996,
p 14) to a circumstance in when a result is only attainable within collaboration and where
contributors, service users, or organisations benefit as well in some form of way from the
collaboration. "A successful collaborative working situation would be one in which similarities
between collaborators are recognised and differences are recognised" (Davies and Ward, 2012). A
partnership is when there is a contract amongst two or more people to invest and run a business.
Each individual partner has the equivalent responsibility and power to make decisions and manage
the business. It is necessary each associate takes part in daily tasks of the business and share
responsibilities between each other in order to develop a successful partnership. "The joint
ownership concept that describes a business partnership gives it certain distinct advantages and
disadvantages". (Partnership advantages and disadvantages, no

Barriers to Partnership Working
Chapter 4: Barriers to Partnership Working HEALTH, SOCIAL CARE AND HOUSING
PARTNERSHIP WORKING BRIEFING NOTES FOR PRACTITIONERS AND MANAGERS
August 2009 Chapter 4 – Barriers to Partnership Working Contents
INTRODUCTION........................................................................................................ 3 THE
CAUSES AND EFFECTS OF PARTNERSHIP BARRIERS .............................. 3
PEOPLE..................................................................................................................... 5 Roles
(including power)................................................................................................ 5 ... Show more
content on Helpwriting.net ...
This chapter organises the literature review output using a Cause and Effect diagram (see page 4).
Also called Ishikawa, fishbone or characteristic diagrams, these represent all the factors that
contribute to or affect a given situation. The fishbone diagram seeks to identify root causes, rather
than symptoms, and examines the whole system within which the problem arises, allowing remedial
action to be focussed on the relevant area of the system. It is an industrial (six sigma) tool which
also works well, with some development of the categories, for service sector problem analysis. 3
Chapter 4 – Barriers to Partnership Working Cause and Effect Diagram of Common Barriers to
Partnership Structures Different employment conditions Roles Power and Hierarchy People Wrong
Partners Loss of autonomy Blurred Accountabilities Poor engagement of local people and service
users Constant change Resources Different Funding Cycles Lack of integration of information
Partnership Fatigue Poor morale from past failures Unclear

Family School Community Partnership ( Fsc Partnership )
Family–School–Community Partnership
What is a partnership? According to www.merriam–webster.com, "partnership is a relationship
resembling a partnership and usually involving close cooperation between parties having specified
and joint rights and responsibilities" (accessed 9/14/16). The information provided in this paper will
answer the following questions: What is a Family–School–Community Partnership (FSC
partnership), what the framework for forming a partnership is, and who or what would benefit.
Family–school–community partnerships "are collaborative initiatives and relationships among
school personnel, family members, and community members and representatives of community–
based organizations such as universities, businesses, religious organizations, libraries, and mental
health and social service agencies" (Bryan & Henry, 2012). The partnerships are more than just a
parent/guardian volunteering in the classroom or coming to a PTA meeting. The family–school
partnership could be in the form of continuing education for parents to receive their GED, parenting
support, or making sure families know how to help their child with homework (Casto, 2016). By
forming partnerships with the community schools can bring in experts from the community to begin
or finish a project as well as providing basic information. Building these partnerships help to narrow
the achievement gap, increase attendance, reduce behavioral problems, and strengthen the school
environment (Bryan &

Partnership Working Nvq Level 3
Partnership working is defined as "the use of inclusive and mutually beneficial relationships...to
improve the quality and experience of care" (Tilmouth and Quallington (2016). Successful
partnership working is reliant on effective communication between the necessary professionals,
agencies and organisations, which requires some form of shared communication systems. This may
be by using a shared database or as simple as granting access to files and records on a particular
service user to ensure continuity of care. As a residential care home, the Care Act (2014) gives us a
duty to promote individual's wellbeing, which requires us to effectively work in partnership with
other services. A good working relationship is also crucial.
At present at ... Show more content on Helpwriting.net ...
All staff should also have clear knowledge of the Caldicott Principles, which explain clearly who
has the authority to access the data, to ensure collaboration with other teams or agencies is for the
sole purpose of improving the care of the service user.
See Appendix 2 – Compare the effectiveness of different communication systems for partnership
working –Table Tameshea Bish–Castro
Level 5 Diploma in Leadership for Health and Social Care
14 | P a g e
LEARNING OUTCOME 4
BE ABLE TO USE SYSTEMS FOR EFFECTIVE INFORMATION MANAGEMENT
4.1 EXPLAIN LEGAL AND ETHICAL TENSIONS BETWEEN MAINTAINING
CONFIDENTIALITY AND SHARING INFORMATION
As a manager, I have a duty of confidentiality both towards staff and service users. Ethically, in
maintaining confidentiality, I both explicitly and implicitly promise service users and staff that the
information that they share with me will be kept confidential and private. However, there are often
occasions where infringement of the duty of confidentiality may occur, for public interest reasons.
This means that information was disclosed without the necessary consent. Legally acceptable
reasons for disclosure under the Data Protection Act

Corporation and Partnership
Chapter 10 Quizzes Salta Company installs a manufacturing machine in its factory at the beginning
of the year at a cost of $87,000. The machine's useful life is estimated to be 5 years, or 400,000 units
of product, with a $7,000 salvage value. During its second year, the machine produces 84,500 units
of product. Determine the machines' second year depreciation under the units of production method:
Answer: $16,900 Cost–Salvage Value/Total units of production (87,000 – 7,000)/400,000 = .2 .2 *
84,500 = 16,900 Amortization: Answer: Is the systematic allocation of the cost of an intangible asset
to expense over its estimated useful life. Big River Rafting pays $310,000 plus $15,000 in closing
costs to buy out a competitor. The real ... Show more content on Helpwriting.net ...
The company's sales for the current period are $185,000. The current period's entry to record
warranty expense is: Answer: Debit warranty expense $7,400; credit estimated warranty liability
$7,400 185,000*4% = 7,400 An employee earned 62,500 during the year working for an employer.
The FICA tax rate for social security is 6.2% and FICA tax rate for Medicare is 1.45%. The current
FUTA tax rate is 0.8% and SUTA is 5.4%. Both unemployment taxes are applied to the first $7,000
of an employee's pay. What is the total unemployment taxes does the employee have to pay?
Answer: $0.00 Employees do not pay unemployment taxes. FUTA taxes are: Answer:
unemployment taxes Arena Company's salaried employee's earned two weeks' vacation per year. It
pays $858,000 in total employee salaries for 52 weeks but its employees work only 50. Record
Arena Company's weekly journal entry to record the vacation expense; Answer: Debit vacation
benefits expense $17,160; Credit vacation benefits payable $17,160 858,000/50 = 17,160 A
company sells computers at a selling price of $1,800 each. Each computer has a 2 year warranty that
covers replacement of defective parts. It is estimated that 2% of all computers sold will be under the
warranty at an average cost of $150 each. During November the company sold 30,000 computers
and 400 computers were serviced

Partnership Law Essay
The purpose of this assignment is to explain how the Partnership Law can be applied in a
partnership agreement whether a partner's actions have an effect on the other partner. The authority
in Section 4 of the Partnership Act 1908 defines partnerships as "the relation which subsists between
persons carrying on a business in common with to profit" (Partnership Act, 1908). The Act defines
any agreement made between two people is considered to be a partnership as long as they both
agreed to do business together with the purpose of making profit. Additionally, the partnership is
also collectively called a 'firm' as stated in Section 7 according to the Act. Thus, the partnership
between Art and Craft will be referred to as a 'firm' in this essay. For the purpose of clarity, the two
questions will be referred to as Case I and Case II respectively and will be answered in two parts by
applying principles stated in the Partnership Act namely; Section 8, Section 9, Section 39 along with
its sub–sections, and common law cases that are relevant depending on the circumstances. The main
purpose of this essay is to analyse the case in question and to justify whether or not the partnership
is liable to the outside parties concerned and how the likelihood of the outcome affects the
partnership's obligations. CASE I: First of all, the legal question in Case I is to justify whether
Craft's action can bind the firm and his partner Art to the supplier. To consider whether the firm is
liable,

A Case For A Partnership Agreement
10. Kathleen and Jim are business partners at a consulting firm. Upon Jim's sudden death, his widow
claims that she is entitled to a share of the firm's assets or should be able to take his Jims place as
Kathleen's partner. Is she entitled to her claims? Why or why not?
The outcome of this case depends on whether or not a partnership agreement was formed prior to
the partner's death. If the partnership agreement wasn't formed, general partnership State statues will
take default (Clarkson, 2015, p. 721). However, a partnership agreement will always override state
laws. If the provisions allow the partnership to continue after a partner's death, the wife will be
entitled to her husband's shares and if the provisions don't state otherwise she will also be able to
take over his place in the firm (Wright, 2016). If a partnership agreement does not exist, most states
will require a partnership to dissolve after a partner's death. The deceased partner's shares will be
used to pay off any debts or obligations and the remainder funds will be distributed to the surviving
partners (Wright, 2016). If the deceased partner includes his wife in his will, then a portion of the
funds will be distributed to his wife after the dissolution. If his will is in probate, the funds will be
distributed to his estate (Wright, 2016). A major disadvantage of not having a partnership agreement,
is the risk of the spouse demanding her inheritance immediately (Wright, 2016). Since the partner's
capital is

Partnership And Microsoft

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