Guarantee of specific profits to a partner by the firm or any one or more partners is to attract a qualified professional into partnership to capitalize his/her skills or reputation earned by him/her...
PSR refers to profit sharing ratio agreed amongst partners of a firm in order to share the profits and losses of the firm. Any chance in PSR will result in reconstitution of partnership and thus require...
Here are the tips: Make a flow chart for every topic/chapter Give to the point answer Be clear with all terms/important definitions Don't skip diaram wherever necessary Try to solve maximum types...
Questions: What was the focus of the economic policies pursued by the colonial government in India? What were the impacts of these policies? Ans: The economic policies developed by the British...