Question

Partnership is an association of ________ or more persons. (Fill in the blank by choosing correct option)
a) two
b) seven
c) ten
d) twenty

Answer 1

option number (a) is correct

Answer 2

Answer:

Two

Explanation:

As per the question

Partnership is an association of  Two or more persons

You and  your friend have  created a partnership, a voluntary association between two or more persons .

Who co-own business for profit.

NO official agreement needed , income is taxed as individual income per partner can deduct losses from taxable income

General  partnership the partnership divide the profits and the management responsibilities and share unlimited personal liability for the firm' s debts