Question

what is Partnership



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Answer 1

Answer:

• the state of being a partner or partners

• the state of being a partner or partnersan association of two or more people as partners.

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Answer 2

• 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 generates.

• That income is paid to partners, who then claim it on their personal tax returns – the business is not taxed separately, as corporations are, on its profits or losses.

There are three types of partnerships:

• General partnership
• Limited partnership
• Joint venture

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