04-10-2012, 06:20 PM
SEMESTER SPRING 2012
Introduction to Business (MGT211)
Due Date: 12 April, 2012 Marks: 20
Assignment:
Mr. Aleem and Mr. Ali are lifelong friends living in same locality since their childhood. Recently, they have decided to enter into a new business venture but they have not yet decided upon the nature/kind of business.
Aleem had Rs. 550,000/- which he wanted to invest but he had no desire to take active part in managing routine matters/affairs of the business while Ali was a handyman and always enjoyed designing of readymade garments for men as a hobby.
Luckily, a running garments business was available for sale for sum of Rs. 1,500,000/- and they agreed to buy the business. Ali has Rs. 250,000/- as an initial investment and the remaining amount of Rs. 700,000/- was to be borrowed from a local bank in order to acquire the business.
They eventually purchased the business and registered under the name “AL-Noor Garments”. As Aleem would not take part in the affairs of business so Ali will be having full control over the operations of the business but the profit/loss will be shared equally.
Requirements:
Question no 1 (06 Marks)
Would the status of Ali be different from Aleem? Briefly explain in the context of types of partners.
Question no 2 (14 Marks)
Being a business consultant you are required to suggest key points to be added in partnership deed for Al-Noor Garments so that any future conflicts can be avoided.
Introduction to Business (MGT211)
Due Date: 12 April, 2012 Marks: 20
Assignment:
Mr. Aleem and Mr. Ali are lifelong friends living in same locality since their childhood. Recently, they have decided to enter into a new business venture but they have not yet decided upon the nature/kind of business.
Aleem had Rs. 550,000/- which he wanted to invest but he had no desire to take active part in managing routine matters/affairs of the business while Ali was a handyman and always enjoyed designing of readymade garments for men as a hobby.
Luckily, a running garments business was available for sale for sum of Rs. 1,500,000/- and they agreed to buy the business. Ali has Rs. 250,000/- as an initial investment and the remaining amount of Rs. 700,000/- was to be borrowed from a local bank in order to acquire the business.
They eventually purchased the business and registered under the name “AL-Noor Garments”. As Aleem would not take part in the affairs of business so Ali will be having full control over the operations of the business but the profit/loss will be shared equally.
Requirements:
Question no 1 (06 Marks)
Would the status of Ali be different from Aleem? Briefly explain in the context of types of partners.
Question no 2 (14 Marks)
Being a business consultant you are required to suggest key points to be added in partnership deed for Al-Noor Garments so that any future conflicts can be avoided.
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