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Do you know how many types of businesses are there? Well, they are proprietorship, corporation, and partnership. Among these three, the partnership is the most important form of business. It means two or more people start a business together under the Partnership Act. Well, writing an accounting assignment is not easy, and when it comes to accounting, many students stand up their hands and ask for accounting assignment help. Here, in this blog, learn more about the most important aspect of accounting, i.e.,  partnership accounting.  What are the Characteristics of General Partnership? Canadian Law recognizes that there are two types of partnership, i.e., general and limited. So, here let’s discuss the characteristics of the general partnership: Voluntary Association A general partnership is a voluntary arrangement between two or more persons who are legally competent and mentally fit.  Taxation The partnership is not meant for sharing profit only. They also need to pay the tax as per t

You might be thinking, "What is business accounting?" whether you're the happy owner of a brand-new firm or you're just studying about and wanting to work your way up the corporate ladder. The process of acquiring and evaluating financial data on business activity, documenting transactions, and creating financial statements is known as business accounting. Accounting in business is significant for several reasons. Keeping track of all of your assets, liabilities, inventory, and other data can help you attract investors, safeguard your property from theft, and discover new opportunities for expanding and developing your business. The main responsibilities of small business accounting are bookkeeping, creating financial reports, and completing tax returns. Students fail to understand all the aforementioned topics; hence they seek business accounting assignment help . Basics of business accounting To make sure that your business operations run well, you should be aware o