BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
partnership
|
|
|
corporation
|
|
|
sole proprietorship
|
|
|
monopoly
|
Detailed explanation-1: -Limited liability partnerships are similar to limited partnerships, but give limited liability to every owner. An LLP protects each partner from debts against the partnership, they won’t be responsible for the actions of other partners.
Detailed explanation-2: -A general partnership is a business made up of two or more partners, each obligated for the business’s debts, liabilities, and assets. Partners assume unlimited liability, potentially subjecting their personal assets to seizure if the partnership becomes insolvent.
Detailed explanation-3: -A corporation is owned by shareholders who have limited liability, and it is best suited to raising large amounts of capital. The owners of the corporation provide capital for the business in exchange for shares.
Detailed explanation-4: -The corporate form of organization offers several advantages, including limited liability for shareholders, greater access to financial resources, specialized management, and continuity.