Write short note on features of partnership firm.
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, making it impossible for investors to either purchase undervalued stocks or sell stocks for inflated prices. As such, it should be impossible to outperform the overall market through expert stock selection or market timing, and that the only way an investor can possibly obtain higher returns is by chance or by purchasing riskier investments. His 2012 study with Kenneth French supported this view, showing that the distribution of abnormal returns of US mutual funds is very similar to what would be expected if no fund managers had any skill—a necessary condition for the EMH to hold.
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Partnership is a method of business which came into being due to the inadequacies of sole proprietorship.
Features of partnership firm:
• At least two persons must group capitals to start a partnership firm.
• A partnership comes into existence through an agreement be¬tween persons who are capable to enter into a contract
• The partners can take up only validly blessed activities. Any illegal activity conceded out by partners does not enjoy the legal permission.
• The partnership agreement must stipulate the manner of allocating profits and losses among associates.
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