Explain the Meaning of the Requirement for the Existence of a Partnership

question 61

Essay

Explain the meaning of the requirement for the existence of a partnership that the people carrying on the business have a "view to a profit."

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Definitions:

Organization Development

is a systematic practice aimed at improving organizational effectiveness and employee well-being through planned interventions in the organization's processes.

Intervention

The action taken to become involved in a situation in order to help alter the outcome or improve the circumstances.

Diagnosis

The identification of the nature or cause of a condition, situation, or problem.

Status Quo

The existing state or condition of a situation, often used in the context of maintaining current circumstances.