Meaning and definition of partnership???
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MEANING OF PARTNERSHIPS::::
Limitations of sole trader sheet and JHF business give birth to partnership. Person processing fiance may not necessary possesses managerial ability or technical expertise. Therefore the need was felt to combine the capital managerial ability and technical expertise of different person. This gave the idea of partnership business on a large scale on the footing of a combination of two or more.
DEFINITION OF PARTNERSHIP:::
Partnership is define as a relation between person who gave agree to share the profits of a business carried on by all or any one of them acting for all.
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