Raghesh Sudhakar (Financial Consultant) (24 Points)
06 January 2014|
Hi all One of my client wants to do two or more different type of business, say Hotel, Manufacturing unit and a dealership under a single partnership agreement. Is this possible and should they require to maintain separate books of accounts for different business or they can maintain only one book for all thees 3 businesses. Please give your comments |
C. SANJEEVA RAO
(Consultant)
(30 Points)
Replied 06 January 2014
The firm has to maintain different set of books of account for different business, which shall depict correct profit earned, what is the actual expenditure incurred in different businesses, so that the firm can guage or shall take the right steps to follow to minimise the expenditure and maximize the profits
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