BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A partnership agreement is a contract that defines the terms of a partnership, such as:(Select the FOUR that are correct)
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The contributions from different partners
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How major decisions are made
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How profit or loss is shared
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How the partnership may be ended
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Details of the business office decorations
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Explanation:
Detailed explanation-1: -The partnership agreement spells out who owns what portion of the firm, how profits and losses will be split, and the assignment of roles and duties. The partnership agreement will also typically spell how out disputes are to be adjudicated and what happens if one of the partners dies prematurely.
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