Question

Q: Which of the following business entity is collectively known as firm?​

Answer 1

Answer:

DUDE...Where is the option

Explanation:

A partnership is “the relation between people who have agreed to share the profits of the business carried on by them or any of them acting for all”. A Partnership Firm in India is a type of Joint-Venture Company. The owners of a partnership firm are individually known as partners and collectively known as a firm

Answer 2

Answer:

The owners of a partnership firm are individually known as partners and collectively known as a firm. A minimum of two people are required to start a partnership business. The maximum number of partners is ten. The partners have unlimited liability and can share profits in any mutually agreed ratio.