Partnerships question

When a partners leaves and all the due finances are calculated, if the partner
then leaves some money in the company in the form of a loan is this called a 'debenture'?? REF: Page 327 BPP Unit 5 FRA 'Paying off a retiring partner'

I remember the word from GCSE but it's not used in BPP - or am I just getting confused?

Cheers all.

Kev

Comments

  • numberjunky
    numberjunky Registered Posts: 88 ? ? ?
    Debentures

    OK - got my answer today. A debenture is a loan but it's relevant to Limited Companies.

    Case closed.
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