21. Advantages of a partnership include all of the following except: A. Easy and inexpensive to form B. Shared financial commitment among partners C. Shared experience amongst partners D. Partnership incentives opportunities for employees E. Partners retain full liability for the business

Which one of the following is not an advantage of partnership? a. Less profit because profit is shared b. Increased capital c. Increased knowledge and specialist skills d. Shared risk

Partnership agreements are an adviseable method to formalise the relationship where several people go into business together.   “Explain why a formal written partnership agreement is considered to be important and the typical contents you would expect such an agreement to contain.’   2. “If there is no written or verbal partnership agreement, how are the matters discussed in your answer to a) determined and what key items are covered?.’’

Which of the following is a false statement about a partnership? O A. It is an opportunity to pool talents and resources for the company. B. A partnership must have at least two owners. OC. It is a business with two or more owners that is not organized as a corporation. OD. It is a type of corporation in which the owners have limited liability for the organization's liabilities.