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WHAT IS A FIRM?

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FIRM The firm is a constituent element of an industry. Firms of different sizes , location, ownership, efficiency constitute an industry. The immediate environment of a firm is limited to the industry to which it belongs. Firms come under organization and falls in to the sub-classification Non-corporate enterprise. The non corporate Enterprise is divided in to 1) Partnership firm and 2) Joint Hindu family Firm Definition: According to section 4 of the Indian partnership Act 1932 “ Partnership is the relation between persons who have agreed to share the profits of a business carried on by all or any one of them acting for all “ Essential Characteristics of Partnership Firm 1.Agreement : Partnership is the result of an agreement between 2 or more persons. It may be oral or write. It must satisfy all the requirements of a valid contract. 2.Bussiness : The ultimate aim of the agreement is to do lawful business or profession. An illegal act...
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Weekly 10 to 18

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Its two Months Since I made a Personal note in my Blog. May be because of Lack of time,Interest or Commitment accompanied by the fact of being more busy. Even though time I spend on the Internet have increased I think, I am not utilizing it in an efficient manner. Last Two month was not so good for me. March was very hot and humid. April was far cooler than March but the Work pressure was more. My Aim to Change my profile by May 2010 failed. May be because I am not really trying or May be I am looking in wrong place. Hope the Things will Change in coming months. IPL season 3 was the highlight of last two month. CSK were crowned the champion after 45 days of the Season. Modi –Tharoor Saga was other highlight. Tharoor Lost his ministerial Post on charge of Corruption, while the Modi was suspended by BCCI for Financial mismanagement. I think the Story is yet not over. More Twist excepted in the coming months. Another Major story of last Two month was the Ash Cloud that forced to close the...
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"Don't let the cups matter... Enjoy the coffee instead"

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A group of alumni, highly established in their careers, got together to visit their old university professor. Conversation soon turned into complaints about stress in work and life. Offering his guests coffee, the professor went to the kitchen and returned with a large pot of coffee and an assortment of cups porcelain, plastic, glass, crystal, some plain looking, some expensive, some exquisite - telling them to help themselves to hot coffee. When all the students had a cup of coffee in hand, the professor said: "If you noticed, all the nice looking expensive cups were taken up, leaving behind the plain and cheap ones. While it is but normal for you to want only the best for yourselves, that is the source of your problems and stress. What all of you really wanted was coffee, not the cup, but you consciously went for the best cups and were eyeing each other's cups. Now if life is coffee, then the jobs, money and position in society are the cups. They are just tools to hold and c...
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