Question

state the characteristics of a patnership from of business organization​

Answer 1

Answer:

Features of Partnership Firm – Multiplicity of Persons, Contractual Relationship, No Separate Legal Entity, Unlimited Liability, Existence of Business and a Few Others. (i) Multiplicity of Persons: A partnership is an association of two or more persons.

Explanation:

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Answer 2

Answer:

Existence of an agreement :

Existence of business:

Sharing of profits :

Agency relationship:

Membership:

Nature of liability:

Fusion of ownership and control:

Non - transferability of interest :

Registration of firm: