Circumstances Partnerships Are Formed

October 13th, 2008 Comments off
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A partnership comes into existence in the following circumstances:

In What Circumstances Partnership Are Formed:

  1. Two or more persons decide to create a business ie none of them possesses an existing business
  2. Where one person who is already trading decides that he needs somebody to help him carry on his business and possibly who is in a position to introduce additional capital
  3. Where two persons each carrying on separate businesses as sole traders, decide to amalgamate their respective concerns and form a partnership.

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Financial Accounting

 
 

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