Bill is in Partnership with a professional colleague and they run a successful business For the 2015 tax year the partnership had a profit of 125000 The Partnership Agreement specifies that the Bill and his colleague have equal interest in the Partnership The Partnership Agreement also reflects a clause allowing Bill to pay himself a wage of 50000 for his daily management of the business in addition to his half share of profits Note that the above pro

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AnswerIAS 17 states that there are two types of lease a finance lease and an operating lease The definitions of these leases are vital and could be required when preparing an answer in the exam Financ... View the full answer