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ECE2001 Practice In Partnership 1

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Question:

Discuss the following:
 
1. If your group formed a partnership to carry out the business of your major area of study, how would you determine who was the senior partner?
 
2. On what basis can you agree to share profit? Would this be affected by the amount of capital each partner contributed or would you share profit evenly? Would you pay interest to the partners based on their capital contributed?
 
3. Would you consider paying each partner a salary that reflected their epertise, experience or ability to generate business for the partnership? If so, how would you determine the impact of such factory on the salary of each partner?
 
4. What other factors would you include in a partnership agreement?
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