Distinguish between partnership and company forms of organizations.

Question

09 Apr 2024

Answer :

Word Count : 369

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Criterion	Partnership	Company
Definition	A partnership is a business owned by two or more individuals who agree to share profits, losses, and management responsibilities.	A company is a legal entity separate from its owners, treated as an artificial person under the law.
Formation	Partnerships are relatively easy to form, often through a verbal or written agreement between the partners.