MANAGEMENT

Detailed explanation-1: -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.

Detailed explanation-2: -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-3: -There are four types of business partnerships: LLC partnership (also known as a multi-member LLC) Limited liability partnership (LLP) Limited partnership (LP) General partnership (GP)

Detailed explanation-4: -Partnership. Partnerships are the simplest structure for two or more people to own a business together. There are two common kinds of partnerships: limited partnerships (LP) and limited liability partnerships (LLP).

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