Question

Rita and Mita are running a confectionary shop in a club. Both have
invested a capital of 5 lakhs each. They share profit and losses in
an equal ratio.
a) Identify the form of business organization under which Rita and
Mita have promoted their business.
b) State any three features of this form of business organization.​

Answer 1

(a) Partnership.

(b) Features of partnership are ;

1. Two or more persons = In partnership two or mor persons are compulsory because without two or more persons partnership is impossible.

2. Assignment = such agreement can be oral or written, the agreement forms the basis of mutual rights and duties of partners.

3. Sharing profit = in this all the partners have to make sure that they have to share there profit or loss equally as per the agreement.

Answer 2

Answer:

hope it's helps you ❤

thanks