BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Sole Trader
|
|
|
Partnership
|
|
|
Both
|
|
|
Neither
|
Detailed explanation-1: -Types of businesses that typically form LLC partnerships: Companies whose owners want liability protection from the business while still being involved in the day-to-day management and operations. Since LLC partnerships can be formed by most types of businesses, they’re generally a good fit for most people.
Detailed explanation-2: -Limited Liability Company (LLC)
Detailed explanation-3: -Partnerships may enjoy the advantage of having more access to operating capital. While the sole proprietor may need to rely on financing, such as bank loans, to start and sustain the operation, partners may be able to pool their resources to come up with needed funds. Sole Proprietorship vs.
Detailed explanation-4: -General partnerships: General partnerships are the most common type of business partnership. In a general partnership, two or more parties use a partnership agreement to determine how to share the business’s day-to-day operations, profits, and losses.