what is partnership
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Ans - - - When two or more persons working together for the sole motive of earning profit is called partnership. Partnership is the business come under private sector. It is not compulsory to register the partnership under the act. But whenever it is registered under partnership act1932 then it earns lot of benefits. The persons working under partnership called partners. Partners have unlimited liability under partnership i. e it means that partners are liable to pay their person asset to business when business aseets can't cope up their liabilities. All the partners share both profits and losses under partnership. There is an agreement among partners, under partnership. It may be oral or written but mostly business preferred written agreements bcx it will be used as an evidence in the court any time whenever disputes arises... In partnership, all the partners also contribute their capital in business...
HOPE ITS HELPFUL FOR YOU
:))
^_^
Ans - - - When two or more persons working together for the sole motive of earning profit is called partnership. Partnership is the business come under private sector. It is not compulsory to register the partnership under the act. But whenever it is registered under partnership act1932 then it earns lot of benefits. The persons working under partnership called partners. Partners have unlimited liability under partnership i. e it means that partners are liable to pay their person asset to business when business aseets can't cope up their liabilities. All the partners share both profits and losses under partnership. There is an agreement among partners, under partnership. It may be oral or written but mostly business preferred written agreements bcx it will be used as an evidence in the court any time whenever disputes arises... In partnership, all the partners also contribute their capital in business...
HOPE ITS HELPFUL FOR YOU
:))
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