+
Related Flashcards
Related Topics
Cards In This Set
| Front | Back |
|
How easy is the business to start?
|
It is fairly easy.
|
|
How many opportunities are there for capital?
|
There are multiple sources for capital.
|
|
How does the skill set of people in a partnership compare to a sole proprietorship?
|
There are more business skills because there are more people contributing.
|
|
How efficiently are the decisions made?
|
The decisions are made better.
|
|
How are the operations operated?
|
The operations are flexible.
|
|
Is the interest of each partner protected?
|
Yes.
|
|
How is the registration and fees for a partnership?
|
You do not have to register with the state so there are no hefty fees.
|
|
Is the future of the business certain?
|
No, if someone dies or quits then it ends.
|
|
Do the partners get alot of money?
|
Not as much as a sole proprietorship because they have to share the profits.
|
|
Is one person liable for their actions?
|
No, each partner is liable.
|
|
What if one partner does not agree with a situation, are they still liable?
|
Each partner is liable for every decision.
|
|
Is the capital limited?
|
Yes the capital is limited because there is a certain amount of partners that you can't rise above.
|
|
Can you have as many partners in the partnership as you would like?
|
No, you cannot have as many as you want. A partnership is limited to twenty partners.
|
|
Can shares be transferred easily?
|
No, there is no transferability of shares because the other partners joined into a partnership with you, not another person. The other partners may not necessarily want to partner with a different person.
|
