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Question
What Are 5 Characteristics of a Partnership?
What Are 5 Characteristics of a Partnership?
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Solution
The following are the characteristics of a partnership firm:
- Existence of agreement (Oral or written in form of partnership deed)
- Existence of business
- Sharing of profits
- Mutual agency
- Unlimited liability
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Stay connected with BYJU’S for more such questions and answers on various commerce topics.
The following are the characteristics of a partnership firm:
- Existence of agreement (Oral or written in form of partnership deed)
- Existence of business
- Sharing of profits
- Mutual agency
- Unlimited liability
Also read:
Stay connected with BYJU’S for more such questions and answers on various commerce topics.
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