Differentiate between the company and partnership.

Explanation

Difference between the company and partnership


...

BASIS FOR COMPARISON	PARTNERSHIP FIRM	COMPANY
Meaning	When two or more persons agree to carry on a business and share the profits & losses mutually, it is known as a Partnership firm.	A company is an association of persons who invests money towards a common stock, for carrying on a business and shares the profits & losses of the business.