Uniform Partnership Act (UPA).

The Uniform Partnership Act (UPA) is a set of laws governing partnerships that was first promulgated in 1914 by the National Conference of Commissioners on Uniform State Laws (NCCUSL). The UPA has been adopted, in whole or in part, by 47 states, the District of Columbia, and the U.S. Virgin Islands. The UPA is designed … Read more

Definition of Residual Value

Oneaccounting terms, When an asset (real estate, equipment, transport vehicle …) has been used for years, it is normal that it has lost its value, that is, it has suffered a depreciation. That last value that an asset has at the end of its useful life is what I know as residual value. Any asset, … Read more