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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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Why not learn a lesson in political honesty too?

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There is more than a passing similarity between last year’s general elections in India and the just-concluded UK general elections. In India, the Modi-led BJP won a majority on its own, putting an end to years of coalition governments. In the UK, the David Cameron-led Conservative Party won an overall majority on its own, stunning pollsters and pundits alike. In India, Modi’s overwhelming victory was widely seen as setting the stage for massive change. In the UK, these elections are also a precursor to some significant changes, from a potential exit from the EU to the revival of the Scottish independence movement. But there the similarities stop. After their crushing defeat, the leaders of the parties on the losing side were quick to own personal responsibility for the rout of their respective parties. Labour’s Ed Milliband not only resigned from his party’s leadership, but even quit politics. Nick Clegg of the Liberal Democrats, also quit as party leader, though hanging on to his ...
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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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