Question

Which sentences describe characteristics of a partnership?

Answer 1

A firm that has been set up by a group of people or organisations, who have come together to do business, is called a Partnership.

The people or organisations that make up the firm, are known as Partners and it could be two or more. Partners share the profits and losses of the firm among themselves, as per pre-agreed terms and conditions. Partnership between organisations are common, to supplement their individual business’.

Answer 2

a group of people make a work as a team work this can be termed as partnership