Question

what is patnership and its advantage​

Answer 1

Answer:

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

There are several types of partnership arrangements. In particular, in some partnerships, all partners share liabilities and profits equally, while in others, partners have limited liability. There also is the so-called "silent partner," in which one party is not involved in the day-to-day operations of the business

Advantages of a partnership include that:

two heads (or more) are better than one

your business is easy to establish and start-up costs are low

more capital is available for the business

you’ll have greater borrowing capacity

high-calibre employees can be made partners

there is opportunity for income splitting, an advantage of particular importance due to resultant tax savings

partners’ business affairs are private

there is limited external regulation

it’s easy to change your legal structure later if circumstances change.

Answer 2

Answer:

Consider a partnership if the number of people involved is small (up to about 20) and limited liability is not necessary.

Advantages of a partnership include that:

• two heads (or more) are better than one

• your business is easy to establish and start-up costs are low

• more capital is available for the business

• you’ll have greater borrowing capacity

• high-calibre employees can be made partners

• there is opportunity for income splitting, an advantage of particular importance due to resultant tax savings

• partners’ business affairs are private

• there is limited external regulation

• it’s easy to change your legal structure later if circumstances change.

PLEASE MARK IT AS BRAINLIEST..