THE PATHSHALA CLASSES

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Understanding concepts: By reading the definitions, features and reasoning of a concept, understanding it would be easy. Completing syllabus: The syllabus of CBSE Class 12 is to be covered entirely to be able to answer every question on the paper. Start early: Business studies cannot be crammed just before the exam. Students need to start early. Without taking stress, one can just go through the chapter taught in class, so that it gets retained better. Important parts: Capital Structure is a crucial concept of financial management that students need to handle with care. One should try to understand how the statement or format is being derived instead of simply mugging it. General Tips Written practice: In order to remember the chapter or lesson better, write down whatever you are reading to retain the information better. Sample questions: Question papers from previous years are easily available on the Internet. Practicing them within the speculated time frame will help students in adju

:: THE PATHSHALA CLASSES : Feedback :: Definition: As per Sec. 4 of Indian Partnership Act, 1932, “Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any one of them acting for all.” Features/Characteristics of Partnership Ø   Two or more persons Ø   Agreement/ Partnership Deed Ø   Existence of Business   for Profit Motive Ø   Sharing of Profit Ø   Relationship of Principal and agent Ø   Business carried on by all or any one of them acting for all. Ø     No separate existence. Rights of a Partner Ø   Right to share Profits and losses. Ø   Right to take part in affairs of the business. Ø   Right to be consulted Ø   Right to inspect books of accounts. Ø   Right to deny admission of new partner. Ø   Right to claim joint ownership on the assets of the business. Ø   Right to claim interest on loan given to the business. If not agreed, then @ 6% p.a. Ø   Right to get reimbursed. Ø

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