All of the following phrases describe a partnership, except a. shared responsibility for decisions. B low initial costs. vs. High protection for your personal property. D. the involvement of up to 20 partners.
Answer 1
The answer must be B
answer 2
A partnership is a legal form of business operation between two or more people who share management and profits. There are two types of partnership: general partnership and limited partnership. In a limited partnership, the partners manage the partnership and take responsibility for the debts and other obligations of the partnership.
answer 3
All of the following phrases describe a partnership, except (B) high protection for your personal assets. Being in partnership, at least, you have this idea of shared responsibility in making decisions for the business. Always, starting with low costs will certainly be experienced in partnerships. The commitment between you and your partner will be up to 20 depending on the agreement.
answer 4
Since you have to share all the profits and losses of a partnership, you have to sell your personal assets in case your business goes bankrupt. Does not protect your personal property