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WHAT IS A FIRM?
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...
Rupee hits all-time low of Rs 60.59 per dollar
The rupee on Wednesday fell to record low of 60.59 per dollar against the US currency on month-end dollar demand from importers, coupled with firm global cues. Persistent capital outflows from foreign funds also affected the rupee value against the dollar, forex dealers said. The rupee was down 23 paise earlier in the day on Wednesday. The rupee resumed lower at 59.74 per dollar as against the last closing level of 59.66 per dollar at the Interbank Foreign Exchange (Forex) Market and dropped further to 59.89 per dollar at 10:40 am. It hovered in a range of 59.72-59.90 a dollar during the morning deals.
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