Question

Explain the term ‘partnership’

Answer 1

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Partnership

These are made up of two or more people and any profit, debts and decisions relating to the business are a shared responsibility. It's an association of two to twenty partners operating a business of a common goal of making a profit. These are common for practise that offer services such as accountants, doctors and so on.

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Answer 2

Partnership means doing a certain buisness together and sharing equal profit and loss they get from that particular buisness.

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