Question

What is the partnership? State its merits and demerits.

Answer 1

Answer:

Delay in decisions reduces the efficiency of business. Partners cannot transfer their share without the consent of other partners. There may be conflict when done otherwise. There is low investment, may be higher than in sole trading but not sufficient for large scale production resulting in limited areas of operation.

Answer 2

Explanation:

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Answer....✌

Delay in decisions reduces the efficiency of business.

Partners cannot transfer their share without the consent of other partners.

There may be conflict when done otherwise. There is low investment, may be higher than in sole trading but not sufficient for large scale production resulting in limited areas of operation.

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