1.Partnership Meaning, Definition

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Ajay Gursale

Partnership Meaning Definition and Features for students those came from Marathi Medium

Education

Based on Text Book XII
By : Ajay J. Gursale
M.Com.B.Ed.
*

1. INTRODUCTION TO PARTNERSHIP &
PARTNERSHIP FINAL ACCOUNTS
PARTNERSHIP – (MEANING)
Partnership is an organisation
where there is an association of two or
more persons coming together to carry
on a business with a view to share
profit or losses of the business.

PARNERSHIP (Definition)
As per Indian Partnership Act 1932
(Section 4):-
It is the relationship
between persons who have
agreed to share profits of the
business carried on by all or any
one of them acting for all.

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