BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In the general partnership, the limited liability partnership, the limited liability limited partnership and the limited partnership, profits and losses are passed through to the partners as specified in the partnership agreement. If left unspecified, profits and losses are shared equally among the partners.

Detailed explanation-2: -Partnerships–General and Limited Each partner contributes money, property, labor, or skill; each shares in the profits and losses of the business; and each has unlimited personal liability for the debts of the business.

Detailed explanation-3: -“A partnership allows the partners to share profits and losses and make decisions together within the business structure.

Detailed explanation-4: -A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. There are several types of partnership arrangements. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners may have limited liability.