Question

explain the features of partnership firam​

Answer 1

Answer:

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Explanation:

At least two persons are required to begin a partnership while the maximum number of members is limited to 100. ... Unlimited liability: The members of a partnership have unlimited liability, i.e. they are collectively and individually liable for the firm's debts and obligations.

Features of Partnership Firm – Number of Members, Existence of Business, Contractual Relationship, Legal Business, Agency Relationship, Unlimited Liability and a Few Others.

1. Number of Members / Two or More Persons: ... A banking firm can have maximum ten partners where as other firms can have maximum twenty partners.

Answer 2

Answer:

Two or More Persons: ...  

Contract or Agreement: ...  

Lawful Business: ...  

Sharing of Profits and Losses: ...  

Liability: ...  

Ownership and Control: ...  

Mutual Trust and Confidence

Explanation: