The characteristics of a partnership include the following: (a) Association of individuals, (b) Limited life, and (c)
Question:
The characteristics of a partnership include the following:
(a) Association of individuals,
(b) Limited life, and
(c) Co-Ownership of property. Explain each of these terms.
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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a Association of individuals A partnership is a voluntary association of two or more in...View the full answer
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Related Book For 
Accounting Principles
ISBN: 978-0470533475
9th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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