what is partnership?
What is partnership?
Answers
Explanation:
A partnership is an arrangement where parties, known as business partners, agree to cooperate to advance their mutual interests. The partners in a partnership may be individuals, businesses, interest-based organizations, schools, governments or combinations. Organizations may partner to increase the likelihood of each achieving their mission and to amplify their reach. A partnership may result in issuing and holding equity or may be only governed by a contract.
Answer:
A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners have limited liability.
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