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write a conclusion about a partnership business -the advantages of doing a partnership company -how's the management...

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Finance

write a conclusion about a partnership business

-the advantages of doing a partnership company

-how's the management of the company run

Answer & Explanation Solved by verified expert
4.4 Ratings (786 Votes)
A partnership business is one in which two or more individuals each known as a partner join together to provide products andor services under a common brand name They set up a firm to provide such products or services A partnership firm is not a different entity than the partners who form it Each and every partner is responsible for the profit and loss of the firm in the sharing ratio decided by them at the time of setup of a partnership A partnership is generally depicted by a written deed which contains all the rules and regulations applicable to that firm in regards to the business they can carry the profitsharing ratio the    See Answer
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