General partnership definition. Analyzing the definition of key term often provides more insight about concepts. General partnership can be defined as: Partnership in which all partners have mutual agency and unlimited liability for a partnership’s debts. Like a sole proprietorship a general partnership is easy to form but also comes with the cost of liability exposer to the individual partners. A general partnership also need to be careful about the fact that they both partners have agency over the assets and liabilities of the partnership, an ability to make contracts and agreements on behalf of the partnership. The creating of a contract by one partner can obligate the other partner. If a limited partner is added to the partnership the partnership changes from a general partnership to another form.
Posts in the Financial Accounting category:
Corporation Definition – What is Corporation?
Corporation definition. Analyzing the definition of key term often provides more insight about concepts. Corporation can be defined as: Business that is a separate legal entity under state or federal laws with owners called shareholders or stockholders. A corporation basically has some rights generally only given to humans like the right to own property. One of the benefits of this right is that it results in liability protection for the owner, the owner’s personal assets having more protection under a corporation then under a sole proprietorship or general partnership. The downside is that with the right granted to the corporation of ownership comes the responsibility to pay taxes. Corporations are typically taxed at both the corporate level and at the individual level at the point of distribution, at the point of dividend.
C Corporation Definition – What is C Corporation?
C corporation definition. Analyzing the definition of key term often provides more insight about concepts. C Corporation can be defined as: Corporation that does not qualify for nor elect to be treated as a proprietorship or partnership for income tax purposes and therefore is subject to income taxes; also called C corp. A C Corporation is the default setting for an organization that incorporates. A C corporation can be contrasted to pass through entities like an S corporation or LLC. A C corporation has liability protect but is subject to double taxation. An S corporation or LLC is designed, in part, to keep the liability protection and eliminate the double taxation.
MA1200 Banks, Money And The Financial Sector
The banking system, definition of money,, and how money is created in the banking system.
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MI1800 Inflation – Calculation & Policy
Inflation, – How to calculate using index, relationship between inflation and unemployment using the Phillips Curve, and discussion of what drives inflation.
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EA1600 Fiscal Policy
Fiscal policy including tax and government spending. Discussion of the history and debate over fiscal policy
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EA1300.10 Monetary Policy
Monetary policy used by the federal reserve to influence the economy in times of a recessionary or inflationary gap.
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EA900.10 – Keynesian Model – Short Run or Demand Side
Keynesian short run or demand model includes business cycles aggregate demand, short term aggregate supply, and long term aggregate supply. The basis for monetary and fiscal policy recommendations.
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EA10,000.10 Classical Model – Long Run, Growth, Supply – Side
Classical model, long run, growth or supply-side, discussing the model most economists held before the 1930 and that has had some concepts come back since the 1970s.
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EA600.10 Economic History Classical And Keynesian, Short Term, Long Term
Economic history of macro economics introducing classical economics, Keynesian economics and the business cycle.
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