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Averages & Partnerships Video Lecture | General Aptitude for GATE - Mechanical Engineering
FAQs on Averages & Partnerships Video Lecture - General Aptitude for GATE - Mechanical Engineering
| 1. What is the definition of an average? |  |
Ans. An average is a value that represents a group of numbers or data points. It is calculated by adding up all the numbers in the group and then dividing the sum by the total count of numbers.
| 2. How can I calculate the average of a set of numbers? | |
Ans. To calculate the average, you need to add up all the numbers in the set and then divide the sum by the total count of numbers. For example, if you have the numbers 5, 10, 15, and 20, you would add them up (5 + 10 + 15 + 20 = 50) and then divide by the count, which is 4 in this case. So, the average would be 50/4 = 12.5.
| 3. What is a partnership in business? | |
Ans. A partnership is a type of business structure where two or more individuals or entities come together to carry out a business venture. Each partner contributes resources, such as money, skills, or property, and shares in the profits, losses, and management responsibilities of the business.
| 4. How are profits and losses shared in a partnership? | |
Ans. In a partnership, profits and losses are typically shared among the partners based on the terms agreed upon in the partnership agreement. The agreement may specify a certain percentage or ratio for each partner's share. For example, if the agreement states that profits will be shared equally among two partners, each partner would receive 50% of the profits. Similarly, losses are also shared based on the agreed-upon terms.
| 5. What are the advantages of forming a partnership in business? | |
Ans. There are several advantages of forming a partnership in business. Firstly, partners can pool their resources and expertise, which can lead to greater financial and operational capabilities. Secondly, partners can share the workload and decision-making responsibilities, providing a broader range of skills and perspectives. Additionally, partnerships often benefit from shared risks and losses, as well as potential tax advantages.
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