Wales, Henry Windsor and Catherine Wales, William's wife, as a partnership. REQUIRED: a. What are some of the key differences between a partnership and a company, as a vehicle for operating a business? b. What type of company is AusFarm Limited? Distinguish Public and Private Company. Provide 3 advantages that a Pub Company have over a private company. Give Reasons for your answer.

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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AusFarm Limited consolidated the farm business in 1995. Until then, some of the business had been operated by William
Wales, Henry Windsor and Catherine Wales, William's wife, as a partnership.
REQUIRED:
a. What are some of the key differences between a partnership and a company, as a vehicle for operating a business?
b. What type of company is AusFarm Limited? Distinguish Public and Private Company. Provide 3 advantages that a Public
Company have over a private company. Give Reasons for your answer.
Transcribed Image Text:AusFarm Limited consolidated the farm business in 1995. Until then, some of the business had been operated by William Wales, Henry Windsor and Catherine Wales, William's wife, as a partnership. REQUIRED: a. What are some of the key differences between a partnership and a company, as a vehicle for operating a business? b. What type of company is AusFarm Limited? Distinguish Public and Private Company. Provide 3 advantages that a Public Company have over a private company. Give Reasons for your answer.
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