Explain names and details of partners.
Understand the Problem
The question is ambiguous and lacks specific context. It asks for the names and details of 'partners' but does not specify which partners it refers to. To answer this question, I would need more information about the context (e.g., business partners for a specific company, romantic partners of a particular person, partners in a legal agreement, etc.).
Answer
A partnership is a business owned and run by two or more individuals who share in the profits or losses.
A partnership is a business owned and run by two or more individuals who agree to share in the profits or losses of the business. Partners can be active, meaning they are involved in the day-to-day operations, or silent, meaning they invest but do not actively participate.
Answer for screen readers
A partnership is a business owned and run by two or more individuals who agree to share in the profits or losses of the business. Partners can be active, meaning they are involved in the day-to-day operations, or silent, meaning they invest but do not actively participate.
More Information
Partnerships can be general, where all partners share in the business's operational management and liability, or limited, where some partners have limited liability and operational input.
Tips
A common mistake is assuming all partners must be actively involved; partnerships can include silent or sleeping partners who contribute capital but not labor.
Sources
- Partnership: Definition, How It Works, Taxation, and Types - investopedia.com
- Partnership - Overview, Types of Partners, Types of Partnerships - corporatefinanceinstitute.com
- Types of Partners: Active Partner, Dormant ... - Download Toppr - toppr.com
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