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 partnership form of business. The need for partnership form or organization arose from the limitations of sole proprietorship and joint hindu family firm. With the expansion of business, it became necessary for a group of person to join hands together and supply necessary capital and skill. A person may possess exceptional business ability [...]