Question

It is not the firm alone that is benefitted by registration of Partnership,but the parties dealing with the firm are also benefitted.Explain the benefits available to the partners of a firm.

Answer 1

Dear student,

The benefits of registering a partnership firm to its partners are:

1) A registered firm protects the rights and privileges of partners,
2) It gives protection to business, which makes it more profitable.
3) They can easily get credit facilities from bank and financial institutions.
4) The partners work with liberty without fear as they work according to government rules.
5) The partners can file a suit against firm or other firms


Regards