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Dear All.

Sorry but I have not yet uploaded or even made this assignment even in a draft
till yet, but its really simple.
I'm giving off what I know right here, the amendments and the rest filling APP
Please note that this is just for your Idea.

Please DO NOT COPY PASTE (else 0 zero marks are always welcome for copy cats

1) What was the original form of business?
Sole proprietor ship, single person owning and running the business.

2) What form of business will be created between Mr. Akram and Mr. Ajmal?
Partnership means a lawful business owned by two or more persons. The profit of
the business shared by the partners in agreed ratio. The liability of each
partner is unlimited. Small and medium size business activities are performed
under this organization.
(Keeping in mind that his father has died and he cannot leave his job at the

3) What will be the Akram’s Status in this business?
Sleeping partner
A partner who only contributes is the capital but does not take part in the
management of the business is known as sleeping partner. He is liable to pay
the obligations of the firm.

4) What will be the Ajmal’s status in this business?
Active Partner
A partner who takes active part in the affairs of business and its management
is called active partner. He contributes his share in the capital and is liable
to pay the obligations of the firm.

5) How Mr. Akram will benefit from this form of business?
10. Flexibility
It is flexible business and partners can change their business policies with
the mutual consultation at any time.
Moral promotion:
Partnership is the best business for small investors. It promotes moral courage
of partners.
Secrecy : In partnership it is not compulsory to publish the accounts. So, the
business secrecy remains within partners. This factor is very helpful for
successful operation of the business.

Feedback is always welcome.
Please tell me if it is really worth doing??

Views: 214

Replies to This Discussion

u have wrote the advantages i think we have to point out the ways he'll be benefited from the business.
Nice dear ! good.................... I think it will be 100 % correct
Keep it up
thanks mate
well....nice job!!!!! :)
thanks mate
Lodz of Thanks
I were already submitted.....v nice idea Thanks for sharing....Regards
what i have wrote for the 5th question is simply that :

As Mr. Akram and Ajmal invested capital in the business and are partners and in partnership concern profit & loss is shared out on the agreed terms in conditions of Partnership agreement. Therefore both will share profit of the business on agreed ratio as per Partnership agreement
Try to write in relation to the text provided e.g for
Q # 3 : What will be the Akram’s Status in this business?
Answer: Mr. Akram is a bank employee and due to his tight schedule of time he will be unable to properly manage the operations of the business therefore status of Akram will be sleeping partner.

Write something like that. Covering also the text provided in the story paragraph given. Well thats only a suggestion and my point of view.


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