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What Is The Difference Between Partnership And Limited Companies?
What Means Partnership
asked 7 months ago
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A partnership is the sharing of business or trade between the two or more partners. In partnership the partners invest collectively and are the gainers and losers in the business. In a limited company, there is a limited liability and you can not get capital on credit above than that. It is further categorized in to private limited company by shares, private limited company by guarantee and public limited company.
ftp.irs.gov
answered 7 months ago
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In a limited company, the company is a separate
legal entity, independent of its proprietors. A partnership is not separate
from its creators. Also unlike a partnership if a limited company goes bankrupt
the assets of its proprietors do not get automatically attached in order to pay
the creditors.
answered 7 months ago
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