Everything you need to know about the types of partnership. Partnership is the second form of organisation that came into existence. A partnership is an association of two or more persons, who agree to combine their financial resources and managerial abilities to run a business and share profits in an agreed ratio. "Partnership is the relation existing between persons competent [...]
Everything you need to know about the advantages and disadvantages of partnership. Partnership organisation is admirably suitable for medium-size undertakings, where personal efforts of the owners are essential. Besides sole proprietorship partnership is another popular form of business organisation that exist in our society. The term partnership literally means, 'an association of two or more people as partners'. Thus, partnership [...]
Everything you need to know about the features and characteristics of partnership firm. Partnership is a form of business which came into existence due to the shortcomings of sole proprietorship. When the business grows and prospers, one person is not enough to procure capital and look after its day-to-day affairs. In such a scenario, more persons join hands and contribute [...]