BUSINESS ADMINISTRATION
BUSINESS ENVIRONMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Partnership are owned and run by one or more people.
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Shareholders in companies typically have unlimited liability.
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The owners of sole traders typically have limited liability.
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Private limited companies can sell shares to the public.
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Detailed explanation-1: -Detailed Solution. Any firm which earns normal profit has no goodwill is true in the case of Partnership.
Detailed explanation-2: -A partnership is a form of business where two or more people share ownership, as well as the responsibility for managing the company and the income or losses the business generates.
Detailed explanation-3: -An owner of a partnership is any general or limited partner who has direct or indirect (as defined below) ownership of a percentage of the partnership’s capital. An interest or share of only profits and/or losses is not ownership of capital.
Detailed explanation-4: -There are three relatively common partnership types: general partnership (GP), limited partnership (LP) and limited liability partnership (LLP).