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What terms best describes a business form that has one or more partners who share responsibility for the decisions of the company?
Wiki User
∙ 6y ago
General partnership (aplus+)++++
Wiki User
∙ 6y ago
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How does the form of business ownership affect the decisions made?
A sole proprietor makes the decisions. In a partnership, the decisions are generally made by the senior or managing partners. A business which is owned by stock holders is generally run by a CEO who makes most decisions, however stock holders vote on decisions at the annual meeting.
Who are the owners of partnership business?
The partners.
What is the advantage of musharakah?
Capital - Due to the nature of the business, the partners will fund the business with start up capital. This means that the more partners there are, the more money they can put into the business, which will allow better flexibility and more potential for growth. It also means more potential profit, which will be equally shared between the partners.Flexibility - A partnership is generally easier to form, manage and run. They are less strictly regulated than companies, in terms of the laws governing the formation and because the partners have the only say in the way the business is run (without interference by shareholders) they are far more flexible in terms of management, as long as all the partners can agree.Shared Responsibility - Partners can share the responsibility of the running of the business. This will allow them to make the most of their abilities. Rather than splitting the management and taking an equal share of each business task, they might well split the work according to their skills. So if one partner is good with figures, they might deal with the book keeping and accounts, while the other partner might have a flare for sales and therefore be the main sales person for the business.Decision Making - Partners share the decision making and can help each other out when they need to. More partners means more brains that can be picked for business ideas and for the solving of problems that the business encounters.
How can I find an online business partner?
Well, if you are looking for business partners for your online business then join some online business partnerships program. Here you can find your online business partners for your business easily based on their profiles and work history.
What is the maximum number of partners in a banking business?
TEN
What best describes a business form that has one or more partners who share responsibility for the decisions of the company?
General partnership (aplus+)++++
What term best describes a business form that has one or more partners who share responsibility for the decisions of the company?
General partnership (aplus+)++++
What is Mutual agency of a partnership?
Right of all partners in a partnership to act as agents for the normal business operations of the partnership, and their responsibility for their partners' business related (but not personal) actions.
Is not an advantage of a limited partnership?
All partners have to agree with echother when makeing business decisions.
How does the form of business ownership affect the decisions made?
A sole proprietor makes the decisions. In a partnership, the decisions are generally made by the senior or managing partners. A business which is owned by stock holders is generally run by a CEO who makes most decisions, however stock holders vote on decisions at the annual meeting.
What are the responsibility of partners in a partnership?
to know what they are doing
What is a gold implementation partner?
A gold implementation partner helps companies achieve there goals and succeed their business. Partners can help make decisions and help with planning.
Who did the French fur trappers make their business partners?
the french made the Native Americans their business partners
What is a disadvantage of partnerships compared to sole proprietorship's?
It is sometimes difficult for partners to agree on every business decision.There are multiple disadvantages to having a partnership. In a partnership, both parties are responsible, but if one of the partners goes into debt, it may affect both partners. You will also be responsible for the actions of your partner even if you aren't involved in those actions.
Who are stakeholers of social responsibility?
Employees, Suppliers, Clients, Business Partners, Investors, Trade Unions, Environmental and Social NGOs, Governments, Local Authorities, Local Communities, Journalists.
What is the relationship between scrooge and Marley?
Scrooge and Marley were business partners in the novel "A Christmas Carol" by Charles Dickens. Marley is now deceased but appears as a ghost to warn Scrooge about the consequences of his greedy and selfish ways. Scrooge ultimately learns from Marley's visit and changes his behavior.
What is the basic pattern of parthership?
The basic pattern of partnership is a form of voluntary association between two or more individuals who agree to cooperate to advance their collective interests. This cooperative arrangement is typically made in order to operate a business or other enterprise. It is similar to a corporation however it is structured differently and the partners are jointly and severally liable for the business. The main features of a partnership include: Partners are jointly and severally liable for the business debts and obligations. Profits and losses are shared equally among the partners. Partners have the right to participate in the management of the business. Partners may enter into contracts on behalf of the business. Partners have a fiduciary duty to act in the best interests of the business.The partnership structure can provide advantages over other forms of business organization such as limited liability tax advantages and flexibility in how the business is managed. However it also involves a higher degree of risk and personal liability since each partner is responsible for the actions of the other partners. It is important that partners have a clear understanding of the terms of their relationship such as how profits will be shared how decisions will be made and what happens if one partner wants to leave the business.
