Partnership

Commerce SSS1 Third Term

WEEK 8

Partnership

Performance Objectives

The student should be able to:

     1. Define partnership.

     2. Describe the types of partnership.

     3. Give examples of partnership.

     4. Identify the sources of capital of the partnership.

Content

Definition of Partnership

A partnership may be defined as a type of business organisation in which two to twenty persons agree legally to set up and manage a business outfit with the sole aim of making a profit.

The partnership is usually formed by an association of two to twenty persons, who by an agreement (usually legal) decide.... View More

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