When can partnership be useful in business?
Answer and explanation
Correct answer: When resources, skills, and responsibility need to be shared
A partnership allows two or more persons to combine resources, knowledge, skills, and effort for a business. Partners can divide responsibilities, contribute capital, and make use of their different abilities, subject to their agreed arrangement. Therefore, option A is correct. A partnership still requires active work, contact with customers where needed, and proper planning; the other options do not describe its usefulness.
Frequently asked questions
What is the correct answer to this question?
When resources, skills, and responsibility need to be shared
Why is this the correct answer?
A partnership allows two or more persons to combine resources, knowledge, skills, and effort for a business. Partners can divide responsibilities, contribute capital, and make use of their different abilities, subject to their agreed arrangement. Therefore, option A is correct. A partnership still requires active work, contact with customers where needed, and proper planning; the other options do not describe its usefulness.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Forms of Business Organisation. Topic: Partnership.
