Question

some people get together and are interestedin starting an export house they require long term capital to do the business they want (a) which business organisation is suitablefor them and why give reason (b) which different source are possible for long term capital

Answer 1

Answer:

a) partnership.A Partnership Deed is a document that outlines in detail, the rights and responsibilities of all parties to a business operation. ... Having a partnership deed provides a legal liability between partners of the firm. It also states the profit sharing ratio, nature of business, name-address of the partners as well as firm.

b)The partnership capital account is an equity account in the accounting records of a partnership. It contains the following types of transactions: Initial and subsequent contributions by partners to the partnership, in the form of either cash or the market value of other types of assets.

Explanation:

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