In a jointly controlled operation, which of the following situations occur? Select one: a. There is joint ownership of assets b. The venturers own the assets in their enti ty’s names c. The venturers fund the assets equally d. The investors fund the assets equally
Partnership Accounting
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings, admission of a new partner, etc.
Partner Admission and Withdrawal
A partnership is a kind of arrangement between two or more people whereby they agree to manage the business operations and share its profits and losses in an agreed ratio between them. The agreement that is drafted and signed by the partners of the firm is termed as a partnership deed and contains various important clauses agreed between the partners such as profit/loss sharing, interest on capital, remuneration allocation of each partner, drawings of a partner, etc.
In a jointly controlled operation, which of the following situations occur?
Select one:
a.
There is joint ownership of assets
b.
The venturers own the assets in their enti ty’s names
c.
The venturers fund the assets equally
d.
The investors fund the assets equally
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