BOOKKEEPING 2 Definition

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BOOKKEEPING is the art, practice, or labor involved in the systematic recording of the transactions affecting a business.

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RETURN ON CAPITAL EMPLOYED (ROCE) is a measure of how effectively the company is using its capital. The formula to measures the return on all the assets the company is using: Profit before interest and tax (PBIT) / (total assets - current liabilities)

LIMITED PARTNER is a partner in a venture who has no management authority and whose liability is restricted to the amount of his or her investment.

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