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Kinds of partners
...extent of his share in the capital. On attaining majority, he has to choose whether he has to continue as a partner or not. (d) Partner at Will type of partner will continue so long the partners have mutual faith, trust and confidence among them. (e) Partners In Profit Only If a partner is entitled to receive certain share of profit and is not held liable for the losses, he is known as partner in .... 
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Merits and demerits of partnership form of organization
...ision of labour and specialization, thus, can promote efficiency of the firm. 5. Union of Business Ability There is a bid age saying that two heads are better than one. In case of partner the partner mutually consults each other about the lay out, production procedure, marketing channels, etc. and as a result, a wise course of procedure results. 6. Profit Incentive The profits are shared by the pa.... Read
Mutual duties rights and liabilities of partners in the absence of partnership agreement
...ontained in its partnership deed. However, if on any point, the deed is silent, then the relevant rule of the Partnership Act, 1932, will apply. In the absence of a written partnership agreement, the mutual rights and duties of partners shall be governed by the Partnership Act which isas follows.General Duties of Partners Partnership Act describes the general duties of partners as under: “Partne.... Read
Sources of bank funds
...SOURCES OF BANK FUNDSA bank is a business firm. Its main aim is to earn profit. In order to achieve this objective it provides services to the customers. It offers a variety of interest bearing obligations to the public. These obligations are the sources of funds for the bank and are shown on the liability side of the balance sheet of a commercial bank. The main sources which supply funds to a ban.... Read
Importance of money market
...IMPORTANCE OF MONEY MARKETIf the money market is well developed and broad based in a country, it greatly helps in the economic development of a country. The central bank can use its monetary policy effectively and can bring desired changes in the economy for the industrial and commercial progress in the country. The importance of money market is given, in brief, as under:(i) Financing Industry: A .... Read
Functions of state bank of pakistan
...The functions of State Bank of Pakistan are governed by the State Bank of Pakistan Act, 1956. In order to discharge its duties efficiently and successfully some of the functions which involved public dealing have been transferred to State Bank of Pakistan Banking Services Corporation from Jan., 2, 2002. The State Bank of Pakistan will continue performing its four basic functions (i) Framing and op.... Read
Methods of exchange control
...Meaning of exchange control.Broadly speaking, exchange control refers to a government’s inter in the foreign exchange market. In other words, it means legal restrictions on the business involving foreign exchange and its sale and purchase in the national market. It is government domination in the foreign exchange market. In the words of Haberler, “Exchange control is the state regulation exclu.... Read
Partnership agreement deed
... Deed? Partnership agreement in writing is called partnership deed. Partnership deed is a document which is signed by all the partners and which contains all the matters determining and governing the mutual rights, duties and liabilities of the partners in the conduct and management of the affairs of the partnership. It may also be referred to as articles of partnership” containing the name, nat.... Read
Definition of audit note book
.... In the same way entries may not be self- explanatory so auditor can gat information.
20. AUDIT TIMING: The audit notebook can show date and time of audit. The date can be fixed with customer after mutual understanding. The date and time can show progress of work done by audit staff
21. BUSINESS MATTERS: The audit notebook can provide facts and figures about all business matters. A business con.... Read
Govt plans low rates home loans for paramilitary personnel
...In an attempt to make home ownership easier for paramilitary personnel, the Central government is planning to launch a scheme under which home loans are made available to them at concessional rates. “The scheme will allow a soldier from a paramilitary force to avail cheaper home loans at least two years prior to his retirement,” a senior home ministry officer told Hindustan Times.
The offici.... Read
Business ideas 2011 that earn you extra cash with the freebies online
...There’s nothing better than free, people love stuff that they don’t have to pay for, it’s a fact! We’ve found a way for you to get paid each and every time you let someone else in on the new website that’s pulls together all the free deals on the net for your benefit. FreebieGroup.com is a brand spanking new business idea for 2011. You can earn extra cash from home with the greates.... Read
Stock exchange
...A stock exchange, share market or bourse is a corporation or mutual organization which provides facilities for stock brokers and traders, to trade company stocks and other securities. Stock exchanges also provide facilities for the issue and redemption of securities, as well as, other financial instruments and capital events including the payment of income and dividends. The securities traded on a.... Read
Lending institutions
...In addition to bank there are other lending institutions also that advance loans and other financial services. These lending institutions are given as under:1. Savings and Loans Associations2. Credit Unions3. Life Insurance Companies4. Commercial Finance Companies5. Factor Companies6. Sales-Finance Companies7. Consumer Finance CompaniesSavings And Loans AssociationsThese lending institutions recei.... Read
Modaraba
... Modaraba means a business in which the subscriber (Zarib) participates with his money and an other (Modarab) with his efforts or skill or both his efforts and skill and shall include Unit Trusts and Mutual Funds by whatever name called. The profit earned during the year is distributed among financiers and the entrepreneurs according to the agreed ratio. In case of loss, it is shared among the fin.... Read
Wholesale portable advance transformer oil purifier transformer oil filtration machine
...diytrade.com/
Application:
ZY series high efficiency vacuum insulating oil purifier, mainly for the power station, industrial and mining enterprises purifying the unqualified transformer oil, mutual inductor oil, switch oil and so on.
ZY series can remove water, trace water, gas, particles from oil quickly and effectively, improving oil dielectric strength. Also, this oil purifier can.... Read
Role of central bank in underdeveloped money market
... deposits of the saving banks are mostly invested in government projects.(4) Co-operative banks. Co-operative banks are set up both in rural and urban areas for the promotion of thrift, self help and mutual and mainly among the members of the society. The co-operative banks advance short term loans to agriculturalists for the purchase of inputs. They raise funds through the issue of shares and sal.... Read
Sources of company financing
...g term financial institutions. There are also a number of other financial institutions which have sufficient funds to invest in long term financing. These are saving centres, Life Insurance Companies Mutual funds etc. These institutions are primarily concerned for the purchase of shares of the well reputed companies, bonds and also make long term loans.The diagram shows two sources of the capital .... Read
Kinds of finance
...There are two kinds of financial or capital requirements of a business. First there is the capital which is required by a business to own durable assets such as building land machinery, etc. This capital is called fixed capital. Secondly, capital is required for investment in short term assets such as purchase of raw material, payment of salaries, wages, rents, etc. This capital is termed as curre.... Read
Air force special services launched by sbi
...India's largest lender, State Bank of India , has launched a special concessional banking scheme for Air Force personnel.
Under the scheme -Defence Salary Package-- Air Force personnel will get facilities such as free draft and free fund transfer from 16,000 branches of the SBI and its associate banks.
"I recommit that SBI would serve the very best we can," SBI chairman OP Bhatt said at the laun.... Read
Sample of qualified audit report
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SPECIMEN OF QUALIFIED REPORTTo,The Shareholders,Ravi Group of Companies,Karachi.Gentlemen!We have examined the profit and loss accounts and the annexed balanced sheet of Gulistan Group of Companies for the year ended June 30, 2005 and report that:1. Inadequate provision has been made for plant and machinery.2. Investments have been valued cost price, which is in excess for market price by Rs.50,.... Read
