INTRODUCTION TO ENTREPRENEURSHIP
TYPES OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Shared losses
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Shared workload
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Shared profit
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More ideas generated
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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: -Which disadvantage of partnerships is unique to one type? Which is shared by all types? Unlimited liability is unique to general partnerships; the potential for conflict between partners and for the partnership terminating is common to all partnerships.
Detailed explanation-3: -Share in equity. Mutual distrust between the partners. No separate legal entity. Difference of opinions between the partners.