Question

What is meant by a partnership business?​

Answer 1

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 have limited liability.

Answer 2

Answer:

A partnership is a form of business where two or more people share ownership, as well as the responsibility for managing the company and the income or losses the business generate..

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