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What are the advantages of the partnership form of business?
With a partnership you don't have to stress over every decision. You and your partner can share the decision making process.
Strength and weaknesses of group Decision making?
discuss some strengths and weaknesses of group decision-making
What are the legal rights and responsibilities of individuals in a legally recognized domestic partnership?
Legal rights and responsibilities of individuals in a domestic partnership include shared property rights, healthcare decision-making, inheritance rights, and responsibilities such as financial support and mutual care.
Who invests only capital in A partnership?
In a partnership, an investor who contributes only capital is typically referred to as a "silent partner" or "limited partner." These individuals provide financial resources but do not participate in the day-to-day management or decision-making of the business. Their liability is often limited to the amount of their investment, protecting them from personal liability for the partnership's debts beyond their contributed capital. This arrangement allows them to benefit from the partnership's profits without being actively involved in its operations.
Why a sole trader might not want to convert the business into a partnership?
because some owners like full controlcof the company, and dont want to share the profits made
Is a disadvantage of partnership compared to sole proprietorship?
You share decision making and profits in a partnership.
What are the advantages of the partnership form of business?
With a partnership you don't have to stress over every decision. You and your partner can share the decision making process.
A general partnership is characterized by which of the following?
Requires collective decision-making.
A general partnership differs from a sole proprietorship because a general partnership is a characteristic by which of the following?
Requires collective decision-making
Why is it necessary to have a partnership agreement?
Partnership Agreement is considered better as decision making process can be done easily. Business responsibilities and liabilities can easily be shared in a partnership agreement.
Strength and weaknesses of group Decision making?
discuss some strengths and weaknesses of group decision-making
In general partnerships differ from a sole proprietorship because a general partnership is characterized by which of the following?
Requires collective decision-making.
What is the weaknesses of partnership?
Some weaknesses of a partnership include unlimited personal liability for the partners, potential conflicts and disagreements between partners, difficulty in transferring ownership or bringing in new partners, and shared decision-making which can lead to disagreements and inefficiencies.
What is the difference between liquidation and dissolution in the context of partnership?
liquidation of partnership is when partnership is broken due to the insuficient fund problem a partnership may encounter, while dissolution of partnership is when partnership is resolved according to the decision taken by the partners
What is a strength of group decision making?
A strength of group decision making is the diversity of perspectives it brings, allowing for a more comprehensive analysis of problems and potential solutions. This collective input can lead to more creative ideas and better-informed decisions, as group members can challenge each other's assumptions and provide valuable insights. Additionally, group decision making can enhance buy-in and commitment to the final decision, as participants feel a sense of ownership over the outcome.
What are the legal rights and responsibilities of individuals in a legally recognized domestic partnership?
Legal rights and responsibilities of individuals in a domestic partnership include shared property rights, healthcare decision-making, inheritance rights, and responsibilities such as financial support and mutual care.
Who is the decision maker for a family limited partnership?
General Partner
