Study

Forms of Business

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  • Give one disadvantage of a partnership?
    Personalities of partners may cause difficulties in decision making. 2. Some difficulty in raising capital.
  • List two advantages of a partnership
    Shared workload, Relatively easy to set up
  • Bonus Question: Give the difference between a sole Trader and Partnership
    Sole Trader Is one that runs and own his/her own business and Partnership consist of 2 or more people
  • There are two types of Partnership. This them
    Ordinary Partner and Limited Partner
  • Easy to set up 2. Financed by the owner 3. Bears all risks and keeps all profits. These are characteristics of what form of business?
    Sole Trader
  • Give two disadvantages of partnership
    Personalities of partners may cause difficulties in decision making. 2. Some difficulty in raising capital.
  • An association between 2- 20 people operating a business with the common goal of making a profit. What am I?
    Partnership
  • self-employed person who owns and runs their own business as an individual. What am I?
    Sole Trader
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