Define partnership. Explain Principal- Agent relationship in Partnership
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Partnership is a type of business where at least two individuals share possession, and also the duty regarding dealing with the organization and the pay or misfortunes the business produces.
That wage is paid to accomplices, who at that point guarantee it on their own government forms – the business isn't saddled independently, as organizations seem to be, on its benefits or misfortunes.
An arrangement or a plan between at least two or more individual is known as the principle-agent relationship.
In particular, the main agent carries out the task in the interest of the principle. This is because of the varying degrees of abilities and knowledge
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