Question

What are the pros and cons of partisanship

Answer 1

Answer:

There are advantages as well as disadvantages of a partnership.

Explanation:

Advantages (pros): Partnership helps in establishing the organisation and in capital investments. Having two or more heads is better than having one head to look after the organisation. In partnership has an opportunity for dividing the income this results in tax savings.

Disadvantages (Cons): If the partners join or leave the organisation this can be costly and must be bared by you. Liability will be the topmost issue found in partnership, in sharing profits and assets. The owner is responsible to bear all the loss occurred. We should share all the details of the organisation and none of the detail is to be hidden.