BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In fact, there are four main types of business entities: a partnership, a sole proprietorship, a corporation and a limited liability company. A partnership business, by definition, consists of two or more people who combine their resources to form a business and agree to share risks, profits and losses.

Detailed explanation-2: -A partnership is an arrangement between two or more people to oversee business operations and share its profits and liabilities. In a general partnership company, all members share both profits and liabilities. Professionals like doctors and lawyers often form a limited liability partnership.

Detailed explanation-3: -A partnership is a form of business where two or more people share ownership, as well as the responsibility for managing the company and the income or losses the business generates.

Detailed explanation-4: -A partnership is one of the types of business organization in which the business is owned by two or more owners, which are called partners of the business.

Detailed explanation-5: -There are three relatively common partnership types: general partnership (GP), limited partnership (LP) and limited liability partnership (LLP).