course hero which of the following is not a disadvantage associated with partnerships

Which of the following is a disadvantage to a partnership?

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.

Which of the following is a disadvantage of a partnership when compared to a corporation?

Which of the following is a disadvantage of a partnership when compared to a corporation? The partnership has limited life.

What are 5 disadvantages of a partnership?

Disadvantages of a PartnershipLiabilities. In addition to sharing profits and assets, a partnership also entails sharing any business losses, as well as responsibility for any debts, even if they are incurred by the other partner. ... Loss of Autonomy. ... Emotional Issues. ... Future Selling Complications. ... Lack of Stability.

What are the advantages and disadvantages of a partnership?

Advantages and disadvantages of a partnership business1 Less formal with fewer legal obligations. ... 2 Easy to get started. ... 3 Sharing the burden. ... 4 Access to knowledge, skills, experience and contacts. ... 5 Better decision-making. ... 6 Privacy. ... 7 Ownership and control are combined. ... 8 More partners, more capital.More items...•

Which of the following is a disadvantage of a partnership quizlet?

The disadvantages of a partnership are unlimited personel financial liability, uncertain life, and potential conflicts between the partners.

Which of the following is a disadvantage of the partnership form of organization quizlet?

Which of the following is a disadvantage of the partnership form of business? Equal division of profits, friction between general and limited partners, perpetual life of partnership, vast amount of regulatory controls. friction between general and limited partners.

Which of the following is a disadvantage of partnerships over sole proprietorships quizlet?

What is a disadvantage of partnerships over sole proprietorships? In partnerships, profits have to be shared, whereas in sole proprietorships all profits belong exclusively to the owner.

Which of the following is normally considered a disadvantage of the corporate form of business?

Which of the following is normally considered a disadvantage of the corporate form of business? Double taxation of earnings.

Why is a partnership practical?

A. A partnership is practical because only a limited number of persons can be partners.

When is a partnership dissolved?

E. A partnership is dissolved anytime a partner ceases to be a partner, regardless of whether the reason is withdrawal or death.

What is the least expensive business organization to create?

D. A sole proprietorship is the least expensive business organization to create.

What is an example of a publicly held business?

D. A family-operated business is an example of a publicly held business organization.

Which is the hardest form of organization to create?

D. Sole proprietorships are the hardest forms of organization to create.

Is a proprietorship more stable than a proprietor?

A proprietorship's business activity may be more stable than a proprietor's willingness to remain actively involved in the business. C. A proprietor may have to share his or her voice of control and responsibility for the business' success with the other acting members of the organization.

Is sole proprietorship expensive?

A. The creation of sole proprietorship is expensive and requires formal documentation.