BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -All partners, whether capitalist or industrialist, are to share on whatever partnership profits or losses. Debited drawings are treated as temporary withdrawal or share in loss while Credited drawings are treated as share in profits. The drawing account of a partner may have a debit or a credit balance.

Detailed explanation-2: -The law says: However, an industrial partner who contributed purely his services is not liable for the losses. As for the profits, the industrial partner shall receive such share as may be just and equitable under the circumstances.

Detailed explanation-3: -In a general partnership, all parties share legal and financial liability equally. The individuals are personally responsible for the debts the partnership takes on. Profits are also shared equally. The specifics of profit sharing will almost certainly be laid out in writing in a partnership agreement.

Detailed explanation-4: -Capitalist partners will participate in company losses in the same proportion as in benefits. According to law, all partners have the right to participate in the management of the company.

Detailed explanation-5: -An industrial partner can not engage in transactions of any class whatever, otherwise he would be subject to serious consequences (art. 138), while a capitalist partner, as a rule, may so engage without extending profits or liabilities to the company (arts.