Question

Explain the nature of partnership?(3 marks)

Answer 1

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When two or more individual come together to to join to set up a bussiness , share their profits and loses are called nature of partnership.

Answer 2

Answer:

When two or more persons join hands to set up a business and share its profits and losses it is called Partnership. ... Partners are the persons who have entered into partnership individually with one another. Partners collectively are called 'firm'.

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