What is partnership?
SharmaBoy:
A partnership is an arrangement in which two or more individuals share the profits andliabilities of a business venture. Various arrangements are possible: all partners might share liabilities and profits equally, or some partners may have limited liability. Not every partner is necessarily involved in the management and day-to-day operations of the venture. In some jurisdictions, partnerships enjoy favorable tax treatment relative tocorporations.
Answers
Answered by
15
It Is working in collaboration with somebody else to Share the profit gained and increasing your own business.
Hope my answer helps!
Hope my answer helps!
Answered by
9
hello there !!!!
The term ' partnership ' is defined as the any work or business is done by more than one person or a group of people....
In this case , the profit and loss are shared among the members of the group....If there any loss or misacre occurred then all members are responsible not at one.......
Same as if there is a profit of company , institution , and other departments then there the profit is distributed among the members.....
HOPE IT HELPS YOU.....
The term ' partnership ' is defined as the any work or business is done by more than one person or a group of people....
In this case , the profit and loss are shared among the members of the group....If there any loss or misacre occurred then all members are responsible not at one.......
Same as if there is a profit of company , institution , and other departments then there the profit is distributed among the members.....
HOPE IT HELPS YOU.....
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