Business Studies
Partnership
This Class 11 Business Studies topic explains partnership as a form of business organisation in which two or more persons agree to carry on a business and share its profits. Students learn its key features, including mutual agency, unlimited liability and a partnership agreement, along with the importance of a partnership deed. The topic also introduces the types, merits, limitations and registration of partnership firms, helping learners compare partnership with other forms of organisation.
Medium · Level 1 · 6 questions