Asked by
Matthew O'Leary
on Oct 27, 2024Verified
Which of the following is not a primary advantage of a general partnership relative to a corporation?
A) The ease of formation.
B) The limited liability for the owners.
C) The business is not taxed separate from the partners.
D) The complete control of the business given to the partners.
General Partnership
A business arrangement where two or more individuals share ownership and the responsibility for managing a company and the liability for the company's debts.
Limited Liability
A legal framework where a company's shareholders' financial liability is limited to the amount they invested in the company.
Ease of Formation
The simplicity with which a new business or organization can be legally established.
- Identify the advantages of different types of business organizations, including sole proprietorships, partnerships, and corporations.
Verified Answer
ZA
Learning Objectives
- Identify the advantages of different types of business organizations, including sole proprietorships, partnerships, and corporations.