Difference between partnership and sole trader
Answers
Answered by
2
Partnership
A partnership is an arrangement in which two or more individuals share the profits and liabilities of a business venture. Various arrangements are possible: all partners might share liabilities and profits equally, or some partners may have limited liability.
Sole Trader
a person who is the exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for all losses.
A partnership is an arrangement in which two or more individuals share the profits and liabilities of a business venture. Various arrangements are possible: all partners might share liabilities and profits equally, or some partners may have limited liability.
Sole Trader
a person who is the exclusive owner of a business, entitled to keep all profits after tax has been paid but liable for all losses.
Similar questions