Explain the advantages and disadvantages of the partnership versus the corporate form of business.

Q: What is partnership? What are its chief characteristics? Explain.

A: Partnership is an agreement of at least two persons to run a business and share the profit and loss…

Q: Which of the two is better especially in terms of convenience, a partnership or a close corporation

A: In partnership firm there are number of partners who share assets and laibilties and profit or loss…

Q: Briefly introduce the legal nature of partnerships and companies, with emphasis on the contractual…

A: In a partnership, two or more parties agree to operate and manage a business and share the profits…

Q: Describe some special types of partnerships and corporations, andexplain the differences among them.

A: The types of partnerships and corporations are General partnership: The general partnership is…

Q: The owner of an accounting practice is considering establishing a partnership with two other persons…

A: A partnership is a type of business structure in which two or more individuals, organizations or…

Q: Which of the following will best limit the liability of ALL owners of the business? O Sole…

A: The question is multiple choice question.

Q: Discuss the advantages and disadvantages of creating a partnership and say why the company format…

A: Hi, since there are multiple questions posted, as per guidelines we will answer the first question.…

Q: When it comes to business ownership, how do shareholders vary from partners?

A: Business Ownership: If you have ownership of anything, it means you own it; it is yours. The word…

Q: Difference between partnership and company

A: A company owned by one individual is a proprietorship or sole proprietorship. When two or more…

Q: A major issue faced by people who are starting their own business is the form of organization they…

A: The company's goal is to maximize profits. Profits are derived from the company's income statement.…

Q: What are the different benefits of being a corporation compared to a sole proprietorship or in a…

A: The biggest benefit a corporation  offers over other business structures is liability protection,…

Q: What is the main difference between organizing a real estate venture as a corporation versus a…

A: Will be explained:

Q: Which of the following is NOT an advantage of starting a partnership rather than a sole…

A: Choosing the right business structure is an essential decision for any entrepreneur. A sole…

Q: Agency problems would be less likely to exist in a:     sole proprietorship.     partnership.…

A: Solution: Agency problems would be less likely to exist in a "Sole proprietorship" because there is…

Q: Which of the following is not a characteristic of a partnership firm? Select one: A. Limited…

A: Partnership Accounts - Partnership is a agreement between two partners agreed to carry business and…

Q: Which of the following is true? a. Owner in sole proprietorship has less responsibility in running…

A: d. The owner of sole proprietorship has less available capital compared to partnership.

Q: Explain any three (3) costs and benefits of partnerships/proprietorships as compared to corporation.…

A: Solution-  Proprietorship      A  proprietorship is business owned  by one individual, a person who…

Q: partnership

A: Form of Business :- Sole proprietorship :- Partnership :- Limited liability partnership :- Companies…

Q: What are the disadvantages of a partnership over a limited liability company form of organization…

A: PARTNERSHIP:A partnership is that form of business where more than two persons enjoy their share in…

Q: What are some of the legal risks associated with organizing a business as a partnership? In your…

A: SOLUTION- PARTNERSHIP- IT IS A KIND OF BUSINESS WHERE A FORMAL AGREEMENT BETWEEN TWO OR MORE PERSONS…

Q: hat are the differences between basis period use for the company purpose and for the individual/…

A: Answer: Basis period is the period that is selected for taxable period and for easy identification…

Q: Is there a difference with respect to share of each partner if one is a capitalist partner as…

A: In the partnership form of business, the profit or loss incurred for the firm is…

Q: In what ways does a shareholders of a corporation differ from a partner in a partnership

A: Corporation is the legal entity which is governed as per the respective country's law or regulating…

Q: Briefly describe about partnership. What fundamentals of partnership agreement are necessary in the…

A: The Indian Partnership Act, 1932 defines Partnership in the following terms: “ Partnership is the…

Q: Two of the business organizational forms your book talks about are limited liability company (LLC)…

A: limited liability company - It is a company wherein if any debt arises of the business then the…

Q: A capitalist partner is not allowed to enter into a new partnership if it is a competing business.…

A: Diligence – The obligation of the partner is to act diligently in her decisions on behalf of the…

Q: What is Private Public partnership? Importance and challenges of Private Public partnership?

A: A partnership is an agreement between two or more persons or companies that mutually agree to share…

Q: In terms of ownership, legal position, obligations, lifespan, regulation, availability of capital,…

A: Will Be Explained:

Q: What are the advantages of operating a business as a partnership rather than as a corporation? What…

A: Describe the advantages and dis-advantages of operating a business as a partnership rather than as a…

Q: One advantage of switching from a partnership to the corporate form of organization is the…

A: It makes it easier for the firm to raise additional capital

Q: Which of the following is a false statement about a partnership? ... OA. It is an opportunity to…

A: A partnership is a type of business organization in which two or more individuals manage and operate…

Q: What type of Partnership as a business formation would be best suited for a "Silent Partner"…

A: General Partnership- This is the kind of partnership where two or more agrees to run a business. In…

Q: On June 1, 20--, a depreciable asset was acquired for $5,400. The asset has an estimated useful life…

A: Depreciation per month = (Cost of assets - salvage value) / Expected life in months = ($5400 - 0) /…

Q: What options does a group of people have when forming a business? Why might a partnership not be the…

A: Options will a bunch of individuals have once formed a business : 1. Partnership 2. Body corporates…

Q: ortance of private public partnership?

A: Public-Private Partnership Success Popular in many European countries, PPPs have gotten off to a…

Q: Explain how the rules concerning stock ownership apply to partners andprofessional staff.

A: Audit engagement is carried out by a Certified Public Accountant (CPA), this engagement allows an…