Question

What is partnership ??​

Answer 1

Answer:

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=>A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits.

=>Share of profits each partner is entitled to share the net profits of the business.

=>In a partnership business, all partners share liabilities and profits equally, while in others, partners have limited liability.

=>An example of a partnership is two businesses working together.

Examples:-

• Red Bull and GoPro.
• Spotify and Uber.
• Levi's & Pinterest.
• Maruti Suzuki.
• Hindustan Petroleum.