Commerce SSS1 Third Term



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.


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

Subscribe now to gain full access to this lesson note

Take Me There

Click here to gain access to the full notes.