Partnership: Nature, Profit Sharing, Salary, Agreement – Essay.

Nature of PartnershipA partnership can be rightfully defined as a formal agreement which takes place between two or more parties in order to manage the business or a particular task in hand. There are a large number of partnership agreements available at hand like the partnership where the liability of the partners is limited or where the liability of the different partners is unlimited. The report will be discussing various facets of the part…