Difference between revisions of "Legal partnership"
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| − | [[ | + | [[File:Org-forms.png|400px|thumb|right|[[Legal entity]]]][[Legal partnership]] (sometimes, simply, [[partnership]]; however, [[partnership]] may also refer to [[strategic alliance]]) is the [[partnership]] of two or more persons who act as co-owners of a business. |
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According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
:[[Partnership]]. The association of two or more persons who act as co-owners of a business. | :[[Partnership]]. The association of two or more persons who act as co-owners of a business. | ||
| + | According to [[Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition)]], | ||
| + | :[[Partnership]]. A partnership exists when two or more persons associate to conduct a business. | ||
| + | According to [[Fundamentals of Financial Management by Eugene F. Brigham and Joel F. Houston (15th edition)]], | ||
| + | :[[Partnership]]. An unincorporated business owned by two or more persons. | ||
==Related concepts== | ==Related concepts== | ||
*[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | *[[Accounting]] (alternatively known as [[accountancy]]) is management of [[financial data]], information, and knowledge about [[financial transaction]]s of [[legal entity|legal entiti]]es. [[Accountancy]] tends to include [[bookkeeping]] and, depending on a particilar enterprise, may also include [[quatitative analysis]] of [[financial data]] in the [[bookkeeping system]] and/or [[business intelligence]]. | ||
| − | ==Related | + | ==Related lectures== |
*[[Partnership Accounting]]. | *[[Partnership Accounting]]. | ||
| − | [[Category: Accounting]][[Category: Articles]] | + | [[Category: American Accounting]][[Category: Articles]] |
Latest revision as of 17:20, 11 December 2020
Legal partnership (sometimes, simply, partnership; however, partnership may also refer to strategic alliance) is the partnership of two or more persons who act as co-owners of a business.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Partnership. The association of two or more persons who act as co-owners of a business.
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Partnership. A partnership exists when two or more persons associate to conduct a business.
According to Fundamentals of Financial Management by Eugene F. Brigham and Joel F. Houston (15th edition),
- Partnership. An unincorporated business owned by two or more persons.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
