GK
BUSINESS MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A partnership combines the expertise and resources of?
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1-10
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2-10
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2-20
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2-30
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Explanation:
Detailed explanation-1: -A partnership business, by definition, consists of two or more people who combine their resources to form a business and agree to share risks, profits and losses.
Detailed explanation-2: -There are three relatively common partnership types: general partnership (GP), limited partnership (LP) and limited liability partnership (LLP). A fourth, the limited liability limited partnership (LLLP), is not recognized in all states.
Detailed explanation-3: -General partners typically bring specialized knowledge and skills to the partnership and contribute to its pool of contacts and clients. Since they share management responsibilities, each has more time to devote to their respective professional duties.
There is 1 question to complete.