If there is no written partnership agreement, how is the general partnership managed?
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If there is no written
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- What is the role of the board of directors in a corporation?describe the advantages of an LLC versus operating as a sole proprietorship, general partnership, limited partnership, C Corporation, and S Corporation.How does limited liability impact the decision-making process and risk management strategies of a company?
- Every organization is formed into an entity of some sort, and is usually done to protect individuals from liabilities connected with business operations. If you were starting your own business, which entity formation would you use--sole proprietorship, partnership, LLC, or corporation? Why? Which entity formation would you never use? Why?Suppose you have to start business dealings with a company named “XYZ” how will you document the conditions both parties agreed or disagreed on and what are the considerations for such agreement?What are the relative advantages and disadvantages of settings up a wholly owned subsidiary instead of a joint venture? Explain in detail
- Desribes six ways in which a company is different from a partnership.You have been invited to become a member of a partnership. What are five of the considerations you need to assess in making a decision whether to join the partnership and whether to become a general or limited partner?What is the aim of the company’s management?