ANSWERS: 1
  • When two or more people start a business or carry on a trade together to turn a profit, the result can often be a strong union that blends complementary skills, financial resources, customers and connections to help the venture succeed. This is the essence of Partnership. Partnership firms in India are governed by the Indian Partnership Act, 1932. Partnership firms are either registered or unregistered. It is not compulsory to register your partnership firm, although it is advisable to do so. It can be registered either at the time of its formation or even subsequently.

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