Varnika wanted to pitch in to reduce the financial crisis prevailing in her house and thought of working as a cook. She started working in three different households, Punjabi, one Gujrati and one South Indian family. She soon realized that all the three households had different cuisine. It was indeed a challenge for her to learn the techniques of the cuisine. All the families greatly appreciated the timeframe within which she had mastered the local cuisine. After working for them for a year, she decides to open a small eating joint of her own along with two of her friends by the name 'Apna Bhoj'. They decided to share profits and losses equally and that each of them will be liable for acts performed by the other two. Soon the eatery became a hot spot because of the fusion platter which was being offered.
On the basis of the given information, answer the following questions:
(a) Identify the kind of business organisation which was set up by Varnika and her friends.
(b) Quoting the lines from the paragraph, state the features of this form of business organisation.