Question

Following are the essential elements of a partnership frim expect

Answer 1

Answer:

The essential elements of partnership firm are at least two persons, there is an agreement between all partners and partnership agreement is for some business. But its not necessary to that the partners have equal share of profits. They may have any profit sharing ratio as agreed or in the deed.

Answer 2

Answer:

Following are the essential elements of a partnership firm expect equal share of profits and losses.

The essential elements of partnership firm are at least two persons, there is an agreement between all partners and partnership agreement is for some business. But it's not necessary to that the partners have equal share of profits. They may have any profit sharing ratio as agreed or in the deed.

Explanation:

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