Respuesta :
Partnership liable for the business as for as loss and Taxes exist connected and liable for debts and losses.
What is Partnership ?
A partnership exists in the connection between two or more individuals to do trade or business. Each person donates money, property, labor, or skill, and shares in the profits and losses of the business.
A partnership exists in an arrangement where parties, understood as business partners, decide to cooperate to promote their mutual interests. The partners in a partnership may be people, businesses, interest-based organizations, schools, governments, or mixtures.
A partnership exists as a formal agreement by two or more parties to drive and manage a business and share its profits. There exist several types of partnership arrangements. In particular, in a partnership business, all partners transfer liabilities and profits equally, while in others, partners may include limited liability.
The key components of a partnership exist (subject to any interpretations set out in a partnership agreement between the partners): Share of risk and rewards – all individuals share the risks and rewards of the company. Share of profits – each partner exists permitted to share the net profits of the business.
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