Accountancy, asked by musictouch512, 8 months ago

explain the charactristics of partnership

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Answered by rishuraj7744

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Explanation:

Partnership is the outcome of an agreement between two or more persons to carry on business. This agreement may be oral or in writing. ... The purpose of partnership should be to earn profits and to share it. In the absence of any agreement, the partner should share profits (and losses as well) in equal proportions.

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