In a partnership each partner shares in the profits of the business, as well as the ______ of the business.

Question

Quizplus · Accepted Answer

Each partner in a partnership also shares in the assets of the business. Assets are the tangible and intangible resources owned by the business that have value and contribute to its overall success. Profit is just one aspect of a business's financial standing, while assets represent a broader measure of its overall value. Therefore, it is important for partners to consider both profits and assets when making decisions about the business.

In a Partnership Each Partner Shares in the Profits of the Business