Admission of a New partner in a Partnership According to the partnership act , no new partner can be taken in a firm without the consent of all the existing partners. the new partner when admitted is called “Incoming Partner” . an incoming partner is not liable for any act of the firm done before […]
Difference between Business Profession and Employment
Business difference from profession and employment in the following respects. 1.Business: A business is organized to produce or distribute goods or services to society in order to earn profit. It involves various kinds of activities such as purchase, sale, store, transport, finance, service which all aim at gaining profit. Business is useful to society in […]
What is Business Risk and its main Causes?
What is Business Risk Business is mainly run to earn profit. However, there is always a chance of suffering loss in it. This danger of loss from unforeseeable events in future in business ins named as business risk. Business risk is an essential element of business. It cannot be avoided but it can be minimized […]
What is Commerce | Definition| Meaning | Importance 2023
“Commerce is the activity of buying and selling of goods and services, especially on a large scale or quantity” When student gets passed his matric or o level and promote to college & those who select commerce & management science field, people always asks them what is commerce ? & students always in confusion and suddenly […]