Features Of Partnership
- An association of two or more persons.
- Existence of a business.
- Sharing of profits of the business(including losses).
- An agreement entered into by all persons concerned.
- Unlimited liability of all partners.
Planning for Preparation
Planning is important because it tells us how to reach our destination or goal. In the context of the general competition, planning acquires greater significance because one has to cover a comprehensive syllabus in a limited period of time. Good planning really implies maximum result with minimum efforts, and effective planning means that you work out your own mechanism for checking whether you are spending your time effectively or not.
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