Question

Explain briefly four features of partnership firm?​

Answer 1

Answer:

Features of Partnership Firm – Agreement,

Number of Partners, Lawful Business, Profit Sharing, Principal-Agent Relationship, Unlimited Liability and a Few Others.

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Answer 2

Answer:

Features of Partnership Firm – Formation, Liability, Risk Bearing, Decision Making, Control, Continuity, Membership and Mutual Agency. (i) Formation: Partnership is governed by the Indian Partnership Act, 1932. ... It must be noted that the business must be lawful and run with the motive of profit. ☑️

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Explanation:

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