Partnership form of business is a second choice . In partnership , two or more than two persons ( not more than 10 in banking or 20 persons in general business as the case may be) pool up the financial or managerial resources or both to carry on some legal business and agree to distribute profit or loss among themselves in an agreed proportion. Partnership business may be selected for acquaring more finance or managerial talenets as well as to reduce income tax burden
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