Question

What Are Three Partnership Features?

Answer 1

Three features of a partnership are:

1. All partners share the risks and rewards associated with the business.
2. Sharing of profits and losses as per the contribution of the partner in the business.
3. All the partners have unlimited liability towards the business.

Also read:

• MCQs on Partnership
• Partnership Deed
• What Is Partnership
• Difference Between LLP and Partnership

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