Question

Define Partnership Business Firm or Enterprise?​

Answer 1

Answer:

A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. There are several types of partnership arrangements. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners have limited liability.

Explanation:

A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. There are several types of partnership arrangements. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners have limited liability.

Answer 2

Answer:

A Partnership Business Firm Is formed when two or More individuals come together to start a business with a set of Terms and Conditions. These Terms and Conditions govern the relationship between the partners who have a motive of making profit.

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