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Question
What Are the Main Features of Partnership?
What Are the Main Features of Partnership?
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Solution
The following are the features of partnership:
- Profit-sharing
- Association of two or more individuals.
- Contractual relationship
- Unlimited liability
- Mutual agency
- Restriction on transfer of share
Also read:
- Dissolution of Partnership Firm
- Reconstitution of a Partnership Firm Retirement Death of a Partner
- MCQs on Partnership
- Partnership Deed
- Modes of Reconstitution of a Partnership Firm
Learn about more questions and answers on business studies and various other commerce topics from our website.
The following are the features of partnership:
- Profit-sharing
- Association of two or more individuals.
- Contractual relationship
- Unlimited liability
- Mutual agency
- Restriction on transfer of share
Also read:
- Dissolution of Partnership Firm
- Reconstitution of a Partnership Firm Retirement Death of a Partner
- MCQs on Partnership
- Partnership Deed
- Modes of Reconstitution of a Partnership Firm
Learn about more questions and answers on business studies and various other commerce topics from our website.
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