Question

state any two concepts of partnership​

Answer 1

Features of a Partnership are as follows:

Two or more persons: To form a partnership, there must be a minimum of two persons. ...Agreement between the partners: A Partnership is created by an agreement between the partners. ...Sharing of Profits: The agreement should be such so as to earn and share profits of the business.

Answer 2

Answer:

A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. There are several types of partnership arrangements. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners may have limited liability.

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