BUSINESS ADMINISTRATION
MARKETING MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Identify an advantage of a partnership.
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There are two or more owners, the partners share in the costs, decisions, and responsibility.
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Money is easily raised by shareholders although most decisions are made by the board of directors.
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Run like a partnership and a corporation limited the responsibility of the partners
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One owner who makes all of the business decisions
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Explanation:
Detailed explanation-1: -Advantages of a partnership include that: two heads (or more) are better than one. your business is easy to establish and start-up costs are low. more capital is available for the business.
Detailed explanation-2: -One of the advantages of having a business partner is sharing the labor. Having a partner may not only make you more productive, but it may afford you the ease and flexibility to pursue more business opportunities. It might even eliminate the downside of opportunity costs.
Detailed explanation-3: -There are three relatively common partnership types: general partnership (GP), limited partnership (LP) and limited liability partnership (LLP).
There is 1 question to complete.