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In general partnerships differ from a sole proprietorship because a general partnership is characterized by which of the following?
Wiki User
∙ 11y ago
Requires collective decision-making.
Wiki User
∙ 11y ago
Wiki User
∙ 13y agounlimited liability
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Which of the following is an advantage of a partnership over a sole proprietorship?
The question is incomplete. There are no options given (for "which of the following") to answer this question.
A general partnership differs from a sole proprietorship because a general partnership is a characteristic by which of the following?
Requires collective decision-making
A general partnership is characterized by which of the following?
Requires collective decision-making.
What are the three categories in business?
Following are three catagories of business: 1 - Sole proprietorship 2 - partnership 3 - Corporation or joint stock company
What are the three primary forms of legal business organizations?
Although forms of business ownership vary by jurisdiction, there are several common forms: * Sole proprietorship: A sole proprietorship is a business owned by one person. The owner may operate on his or her own or may employ others. The owner of the business has total and unlimited personal liability of the debts incurred by the business. * Partnership: A partnership is a form of business in which two or more people operate for the common goal of making profit. Each partner has total and unlimited personal liability of the debts incurred by the partnership. There are three typical classifications of partnerships: general partnerships, limited partnerships, and limited liability partnerships. * Corporation: A business corporation is a for-profit, limited liability entity that has a separate legal personality from its members. A corporation is owned by multiple shareholders and is overseen by a board of directors, which hires the business's managerial staff. * Cooperative: Often referred to as a "co-op business" or "co-op", a cooperative is a for-profit, limited liability entity that differs from a corporation in that it has members, as opposed to shareholders, who share decision-making authority. Cooperatives are typically classified as either consumer cooperatives or worker cooperatives. Cooperatives are fundamental to the ideology of economic democracy.
If a partnership is set up and operated without a formal partnership agreement problems such as the following may arise?
Partnerships should always be set up using a contract that is signed by both parties. Many problems may arise without this being done. To know which of the following problems may arise a person will need to know what the following problems are.
What are the sources of capital a sole proprietorship?
owners contribution
What of the following is not a likely sole proprietorship business?
auto manufacturing plant A+
What is the 4 basic pattern of business ownership?
The following may vary from one jurisdiction to another: 1. Cooperative: 2. Limited Liability Company (LLC): 3. Partnership: 4. Private Corporation: 5. Public Corporation: 6. Sole Proprietorship:
Which of the following is and advantage of partnerships over sole proprietorships?
Partnerships generally have more money to invest in starting or expanding a business.
Which of the following is not true about running a sole proprietorship?
You are exempt from your city's zoning laws
Of the following, which is not typically a general partnership?
manicurist in a salon
