Question: 4 . A partnership is an agreement between two to twenty people to do business and share the profits or losses in an agreed ratio.

4. A partnership is an agreement between two to twenty people to do business and share the profits or losses in an agreed ratio. Identify four elements that a partnership agreement should clearly set out (4 marks)5. Sometimes, customers due to various reasons might return the goods that have been sold by a business. Briefly explain why customers return goods to their suppliers. (3 marks)

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