Difference between revisions of "Legal partnership"
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According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | According to [[College Accounting: A Practical Approach by Slater (13th edition)]], | ||
:[[Partnership]]. The association of two or more persons who act as co-owners of a business. | :[[Partnership]]. The association of two or more persons who act as co-owners of a business. | ||
| + | According to [[Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition)]], | ||
| + | :[[Partnership]]. A partnership exists when two or more persons associate to conduct a business. | ||
==Related concepts== | ==Related concepts== | ||
Revision as of 20:11, 28 October 2019
Legal partnership (or, simply, partnership) is the association of two or more persons who act as co-owners of a business.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Partnership. The association of two or more persons who act as co-owners of a business.
According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),
- Partnership. A partnership exists when two or more persons associate to conduct a business.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
