What are the disadvantages of a partnership over a limited liability company form of organization for a profit-making business?

Q: Which of the following is a reason to use a partnership as the legal form of a business?   A.…

A: partnership : it is a form of business in which two or more people come together to run a business.…

Q: What accounting steps are taken by a partnership firm when a new partner is unable to bring the…

A: When a new partner is not able to bring the business guaranteed by him, then the guaranteed amount…

Q: Explain and enumerate the differences between a Partnership and a Corporation.

A: Partnership Firm: Partnership firms are formed when two or more people join forces to start a…

Q: 1) why would you choose an LLC form over partnership or an S-corporation? 2) what role should social…

A: As per our guidelines we are supposed to answer only one question (if there are multiple questions…

Q: Discuss the advantages and disadvantages of creating a partnership and say why the company format…

A: Hi, since there are multiple questions posted, as per guidelines we will answer the first question.…

Q: What is a corporation? Why might founders have chosen to form a corporation rather than a…

A: A corporation is a legal form of business in which shareholders are the owners and corporation has…

Q: What type of business is owned and funded by a single person who may or may not be involved in…

A: Business can be run in many form depending upon the formation and number of person involved.

Q: 1Give some examples of ways in which manager's goals can differ from those of shareholders.

A: Since you have asked multiple question, we will solve the first question for you. If you want any…

Q: What are the disadvantages of a partnership over a limited liability company form of organization…

A: PARTNERSHIP:A partnership is that form of business where more than two persons enjoy their share in…

Q: Is it possible for a person to form a joint venture with a business? What's your theory about that?

A: Will be explained:

Q: Why would a company consider going public?What are some advantages and disadvantages?

A: The name Public Company itself gives a clear idea of what a public company means or stands for. A…

Q: What are the major features of a partnership agreement for a partnership or an operating agreement…

A: Partnership It is that form of organization which is owned and managed by two or more persons who…

Q: If you are concerned about unlimited liability, what other types of ownership structures could you…

A: Unlimited liability implies that the personal wealth of the owner can be used for settlement of…

Q: What are the main advantages of (a) proprietorships, (b) partnerships, and (c) limited liability…

A: Proprietorship is a form of business where a single person runs & owns the business. He has…

Q: he advantages and disadvantages Sole proprietorship Partnership Corporation

A: There are many forms of organization each have own advantage and each have own disadvantages.