How does running a company as a partnership as opposed to a corporation benefit the parties involved? What are the drawbacks of this approach?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter1: The Role And Objective Of Financial Management
Section: Chapter Questions
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How does running a company as a partnership as opposed to a corporation benefit the parties involved? What are the drawbacks of this approach?

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