involved in business

involved in business

Duration of. Partnership Agreement The. details of the partnership period are also recorded if the partnership has been. established for a limited period to achieve a particular purpose, it is. mentioned in the contract partnership.

And the date. on which the partnership period will expire,

if the partnership is for an unlimited period, then the agreement about it is. determined in the partnership.

The most important. the issue in the. partnership is the ratio of profit and loss to profit and loss. in the business. the amount of their capital or at a fixed rate among all the participants.

Since it is necessary. to settle all the issues before. starting a business in this regard, all the details are. recorded in the agreement partnership about the profit-loss ratio.

(8) Interest rate (Ratie of Intrest Partnership) may be. paid on investment and provision of. loans and the details for the same

are fixed so if the participants involved in the business

If interest is. intended to be. paid on their capital, then all its details are. recorded in the. contract partnership, besides this, is also mentioned in the contract. partnership.

That is the participants. need to get a loan about their needs, and the details about the interest rate on such a loan. recorded in the agreement partnership.

(9) Compensation for Services. provides theirs. services to some participants in the. partnership, which leads to the running of the partnership business.

Thus, in the contract partnership, compensation is. determined in relation to the services of such participants, how. much financial help salary, etc. will be. given to the participants for their services, and the details about it. recorded.

Thus all information about the payment of. services of participants serving in the partnership business are. recorded in the contract partnership.

(10) Under the Management. Matters. Partnership, all details relating to administrative matters in the business are. settled and all their details are. recorded in the contract partnership, which shows that the partnership business

In this, all the participants will take part in the. business together or one or a few. people on behalf of all the participants will take responsibility for it. the business together, thus determining the responsibilities of the participants. the business in the contract partnership.

Question 5 Definition of. partnership. Describe the different main types of partnerships. about

Answer: Partnership

A way of business in which two or more people. agree to establish and run a particular. business to gain profit and mutual consultation with each other.

To establish and run a business, all matters are. settled through a contract, it is. called a contract partner and the. business divides the profits. among themselves according to the. fixed-rate and share in profit and loss according to the agreement.

All partners. involved in this type of business are. called partners and are. called partnership firms.

If it is to organize the business