Question

project on partnership

Answer 1

partnership is an arrangement where parties, known as partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract.

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Answer 2

Please do write definition and meaning first, it will make good impact......


Partnership is an agreement between the persons who have agreed to share profits of the business carried on by all or any of them acting for all


When two persons come together to undertake a business function it's known as partnership


Partnership agreement is also known partnership deed and its optional to make agreements. deed can be in oral or written form

There are different types of partners in partnership firm


Active partner : who actively takes part in the business
He has to give public notice before his retirement

Nominal partner : who just gives his name to the firm
e.g if I just write that Salman khan's name in my firm (with his permission) has to pay him interest for lending his name and he has to give public notice before his retirement

Minor partner : he can be in business just for the benefit of firm
He is no liable for any loss

And there are many more types of partners