There are 2 kinds of partnership in accounting
1. As to Liability- General Partnership is one where the partners are liable upto the extent of their personal property. Limited partnership is composed of atleast one general partner with the others as limited partners
2. As to Property- Universal Partners of property is one where all the partners contribute all their properties into a common fund,
P.S.
Although I'm not sure :D
1. As to Liability- General Partnership is one where the partners are liable upto the extent of their personal property. Limited partnership is composed of atleast one general partner with the others as limited partners
2. As to Property- Universal Partners of property is one where all the partners contribute all their properties into a common fund,
P.S.
Although I'm not sure :D
