Business Studies

When a partner of a firm agrees to share his own share of profits with an outsider, it called ________.


ANSWER

Sub-partnership


SOLUTION
A partnership basically refers to the contract between two or more people who have agreed to carry on certain business in order to achieve common goals.
 When a partner of the firm agrees to share his own share of profits with an outsider then it is called sub-partnership as the partner is sharing profits with a non-partner. 
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Single Correct Medium Published on 18th 08, 2020
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