Question

Discuss the characteristis of Partnership
organisation​

Answer 1

Answer:

Existence of an agreement: Partnership is the outcome of an agreement between two or more persons to carry on business. ...

Existence of business: ...

Sharing of profits: ...

Agency relationship: ...

Membership: ...

Nature of liability: ...

Fusion of ownership and control: ...

Non-transferability of interest:

Answer 2

Hi mate

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A partnership is an unincorporated association of two or more individuals to carry on a business for profit. Each partner shares in the net income or loss of the partnership and includes this amount on his/her own tax return.

Characteristics of partnership organisation

Features of Partnership Firm – 12 Characteristics: Ownership, Mutual Trust and Confidence, Registration, Duration, Capital, No Separate Individuality and a Few Others.

• Existence of an agreement: Partnership is the outcome of an agreement between two or more persons to carry on business
• Existence of business
• Sharing of profits
• Agency relationship
• Membership
• Nature of liability
• Fusion of ownership and control
• Non-transferability of interest