Maurice has been operating his business as a sole proprietorship but decides that it is too much work for him to do alone. He do

Question

3 years ago

12

Maurice has been operating his business as a sole proprietorship but decides that it is too much work for him to do alone. He do

es not want to file a lot of government forms, but would like to bring in someone to own and operate it with him. Maurice needs a ________.

Business

1 answer:

olganol [36] · Answer 1 · 2022-05-04T00:56:11+03:00

Answer:

partnership.

Explanation:

The main advantages of a partnership are:

it is very easy and simple to form
it is not taxed directly, it passes through taxes to its owners (similar to a sloe proprietorship)
more partners mean more capital and more talent

Its main disadvantage is the same main disadvantage of a sole proprietorship, unlimited liability, i.e. partners are responsible for all the debts and obligations of the partnership.