Chapter 6 Common Stocks e Partnership o A partnership is similar to a proprietorship except that are tow or more owners(partners). That means partnership is business formed by tow or more individuals or entities There have general partnership and limited partnership in a partnership firm o Some conclusions of the tow forms of corporation e Unlimited liability for business debts on the part of the owners, Limited life of the business Difficulty of transferring ownership. The ability of such business to grow can be seriously limited by an inability to raise cash for investment.Chapter 6 Common Stocks Partnership ⚫ A partnership is similar to a proprietorship ,except that are tow or more owners(partners). That means partnership is business formed by tow or more individuals or entities. ⚫ There have general partnership and limited partnership in a partnership firm. Some conclusions of the tow forms of corporation ⚫ Unlimited liability for business debts on the part of the owners, ⚫ Limited life of the business, ⚫ Difficulty of transferring ownership. The ability of such business to grow can be seriously limited by an inability to raise cash for investment