Mgt211 GDB No. 1 solution
Tuesday, May 03, 2011 Posted In MGT Edit ThisTotal Marks
2
Starting Date
Monday, May 02, 2011
Closing Date
Wednesday, May 04, 2011
Zeeshan started a small business of ready-made garments by taking a shop on rent. When the business became stable, Zeeshan brought his younger brother Ziad in the business for his help on 25% profit sharing basis only. Soon, with the hard work of both brothers, their business expanded and they wanted to purchase a larger shop for their growing business.
Zeeshan neither wanted to borrow money nor wanted to take bank loan. After much thinking, he decided to invite one more partner in his business for expansion.
Awais, a friend of Zeeshan, left the country some years ago, is nowadays living in Germany where he is doing job in a multinational organization. Zeeshan discussed his plan of expanding the business with Awais and he immediately agreed to invest on 50% sharing basis in the business and do not want to reveal his name.
At the initial stage, they owned only one large shop but due to success of the business in the new place, further expansion was required; after thoroughly thinking, Zeeshan asked his youngest seventeen-years-old brother (Waqar) to join them in ready-made garments business after his college classes. Waqar agrees to join them on 10% profit sharing basis.
After reading above case, mention the type of partner in the below table:
Sr. Person Type of Partner i) Zeeshan ii) Ziad iii) Awais iv) Waqar
Solution:
) Zeeshan Active Partner
ii) Ziad Minor Patrner
iii) Awais Limited Partner
iv) Waqar Junior Partner
ii) Ziad Minor Patrner
iii) Awais Limited Partner
iv) Waqar Junior Partner
