ECONOMICS
ENTREPRENEURS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Everyone is happy
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Two sets of ideas and financial assets
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Potential friction when making decisions
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Can split duties and responsibilties
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Detailed explanation-1: -Disadvantages of a partnership include that: the liability of the partners for the debts of the business is unlimited. each partner is ‘jointly and severally’ liable for the partnership’s debts; that is, each partner is liable for their share of the partnership debts as well as being liable for all the debts.
Detailed explanation-2: -Disadvantages of partnership, on the other hand, include potential liabilities, a loss of autonomy, emotional issues, future selling complications, and a lack of stability.
Detailed explanation-3: -You have an extra set of hands. You benefit from additional knowledge. You have less financial burden. There is less paperwork. There are fewer tax forms. You can’t make decisions on your own. You’ll have disagreements. You have to split profits. More items •26-Oct-2022
Detailed explanation-4: -Breakdown in trust. Company struggles. Different priorities. Financial inequity. Investment levels. Lack of boundaries. Management style. Personal habits. More items •13-Apr-2021