Question

In: Accounting

1.How organize the business as a partnership? What advantages does the partnership form of Organization offer...

1.How organize the business as a partnership? What advantages does the partnership form of Organization offer the business? What are the disadvantages of the partnership form of organization?

2.In the business a general partnership or limited partnership?

3.Do the partners have a written partnership agreement? What type of the agreement commonly used?


Solutions

Expert Solution


Related Solutions

1.How organize the business as a partnership? What advantages does the partnership form of Organization offer...
1.How organize the business as a partnership? What advantages does the partnership form of Organization offer the business? What are the disadvantages of the partnership form of organization? 2.In the business a general partnership or limited partnership? 3.Do the partners have a written partnership agreement? What type of the agreement commonly used?
What characteristics make the partnership form of business organization so popular? What are some of the...
What characteristics make the partnership form of business organization so popular? What are some of the major advantages of the partnership business form? Why might the partners prefer this form of organization over a corporation? What kinds of businesses lend themselves to the partnership form of organization?
Partnership form of organization has advantages and disadvantages. Note that different types of partnerships have been...
Partnership form of organization has advantages and disadvantages. Note that different types of partnerships have been developed to minimize some of these disadvantages. Alternatively, an individual or company can choose the proprietorship or corporate form of organization. Go to two local businesses that are different, such as restaurant, a retailer, a construction company, a professional office (dentist, doctor, etc) and find the answers to the following questions; 1. What form of organization do you use in your business? 2. What...
Partnership form of organization has advantages and disadvantages. Note that different types of partnerships have been...
Partnership form of organization has advantages and disadvantages. Note that different types of partnerships have been developed to minimize some of these disadvantages. Alternatively, an individual or company can choose the proprietorship or corporate form of organization. Go to two local businesses that are different, such as restaurant, a retailer, a construction company, a professional office (dentist, doctor, etc) and find the answers to the following questions; 1. What form of organization do you use in your business? 2. What...
Organization of business as partnership or corporation¬¬¬ On May 31, six brothers decided to form the...
Organization of business as partnership or corporation¬¬¬ On May 31, six brothers decided to form the Grimm Brothers Partnership to publish and print children’s stories. The contributions of the brothers and their partnership interests are listed below. They share the economic risk of loss from liabilities according to their partnership interests. Individual Asset Basis to Pr FMV Partnership Interest Al Cash 15,000 15,000 15% Bob Accts Receivable -0- 20,000 20% Clay Office Equipment 13,000 15,000 15% Dave Land 50,000 15,000...
Compared with the sole proprietorship and partnership forms of business organization, the corporate form generally faces...
Compared with the sole proprietorship and partnership forms of business organization, the corporate form generally faces with ________ difficulty in raising capital and transferring ownership, ________ taxation, and _______ agency problems. a. Less; Less; More b. Less; More; Less c. Less; More; More d. More; More; Less e. More; Less; More
Define the three basic business organization structures (sole proprietorship; partnership; and corporation) and discuss advantages and...
Define the three basic business organization structures (sole proprietorship; partnership; and corporation) and discuss advantages and disadvantages as to taxation, protection from legal liability and access to capital. Specifically comment on how each structure is taxed.
What are the advantages and disadvantages of organizing a business as: one a partnership and two...
What are the advantages and disadvantages of organizing a business as: one a partnership and two as a corporation? What are the main tasks performed as a financial manager?
Describe two advantages and two disadvantages of the sole proprietorship form of business organization as compared...
Describe two advantages and two disadvantages of the sole proprietorship form of business organization as compared to a corporation.
What are the advantages and disadvantages of each of the following business form: (1) sole proprietorship,...
What are the advantages and disadvantages of each of the following business form: (1) sole proprietorship, (2) partnership and (3) a corporation. Also, can you tell me specifically what your state requires to incorporate a business in that state? Please provide a link to the state information.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT