What advantages does a partnership have over a sole proprietorship

Answers

Answer 1

Answer: Firstly, your partners and you can share the workload. If your partner happens to be an Accountant and you have some business-law skills, both of you can share your expertise.

Secondly, raising capital is easier than raising oneself (Sole Proprietorship, which you're alone).

And I totally disagree with the other guy's answer about limited liability. Because there are 2-types of partnership - General and Limited Partnership.

In limited partnership, it's like what the other guy said - you will lose what you have plough into the business. But for general partnership, you will have unlimited liabilities - you will lose and will be in deep debts, which would resort you to sell your private property (like your house, etc) to pay up the debts, just like Sole Proprietorship.

And in Limited Partnership, you need at least one GENERAL partner who will be liable for all debts personally.

Answer 2

Answer:

Answer:

Partnerships combine partners' assets.

is the answer

Explanation:

also put the options next time so people can give u the right answer i only know cuz i took the test but next time put the answer options

Related Questions

How did World War 2 affect the life on the homefront
About how many people did africa lose to the atlantic slave trade?
In a low-income household in the developed world, more than 30% of a woman's income typically goes toward __________. A. transportation costs B. child care C. clothing and incidentals D. the repayment of educational loans
Who was named the ruler of India in 1857?
Gorbachev pursued glasnost and perestroika reforms in part because A. the war in Afghanistan had drained the nation’s resources. B. the Soviet Union had already demonstrated superior nuclear capability. C. food surpluses and production increases created stable economic conditions. D. Russian revolutionaries staged a coup to overthrow the communist government.

What role did Prussia play in reforming education within the United States?

Answers

War with Prussia encouraged the United States to begin reforms after realizing illiteracy was a problem for many soldiers.Prussia sent a number of poorly educated immigrants to the U.S., which caused reforms to focus on achievement.Reformers in the U.S. adopted the idea that students should have access to the same content at similar grade levels.The Prussian ambassador to the U.S. was an outspoken education reformer who collaborated with Horace Mann.

They don't.
I'm assuming you meant Russia, right?

What is the similarity between the code of hammurabi in babylon and the twelve tables in rome

Answers

The Twelve Tables were similar to the Code of Hammurabi and Draco's code of laws ... The laws guaranteed equality between the . ... Why is Hammurabi's Code a great Babylonian achievement? .... They were later used as the laws for Rome.

Big idea for New England colonies