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3 years ago

What is partnership.List the advantages and disadvantages of partnership.

Business

2 answers:

oee [108]3 years ago

7 0

Answer:

Disadvantages of a partnership include that: the liability of the partners for the debts of the business is unlimited. each partner is 'jointly and severally' liable for the partnership's debts; that is, each partner is liable for their share of the partnership debts as well as being liable for all the debts.

Explanation:

Harman [31]3 years ago

5 0

Explanation:

<h3>PARTNER SHIP:</h3>

WHEN TWO OR MORE PEOPLE ARE IN BUSINESS TOGETHER IT IS CALLED A PARTNERSHIP. A PARTNER ACTING ALONE IN THE NAME OF THE BUSINESS BINDS THE OTHER PARTNERS.

<h3>ADVANTAGES OF PARTNERSHIP:</h3>

◇ TWO HEADS OR MORE ARE BETTER THAN ONE.

◇ YOUR BUSINESS IS EASY TO ESTABLISH AND START- UP COSTS ARE LOW.

◇ MORE CAPITAL IS AVAILABLE FOR THE BUSINESS.

◇ YOU'LL HAVE GREATER BORROWING CAPACITY.

◇ HIGH- CALIBRE EMPLOYEES CAN BE MADE PARTNERS.

◇ PARTNERS BUSINESS AFFAIRS ARE PRIVATE.

◇ IT'S EASY TO CHANGE YOUR LEGAL STRUCTURE LATER IF CIRCUMSTANCES CHANGE.

<h3>DISADVANTAGES OF PARTNERSHIP:</h3>

◇ THE LIABILITY OF THE PARTNERS FOR THE DEBTS OF THE BUSINESS IS UNLIMITED.

◇ THERE IS A RISK OF DISAGREEMENTS AND FRICTION AMONG PARTNERS AND MANAGEMENT.

◇ EACH PARTNER IS AN AGENT OF THE PARTNERSHIP AND IS LIABLE FOR ACTIONS BY OTHER PARTNERS.

◇ IF PARTNERS JOIN OR LEAVE, YOU WILL PROBABLY HAVE TO VALUE ALL THE PARTNERSHIP ASSETS AND THIS CAN BE COSTLY.

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Elena-2011 [213]

Answer:

Large most likely reports net cash outflows from investing activities of $9 million.

Explanation:

Large Corporation

Statement of cash flows (extract)

$ in millions

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Note that the purchase of treasury stock belongs to financing activities section of the cash flows, while gain from sale of land and buildings and investment revenue belong to operating activities section of the cash flows

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3 years ago

The following balances have been taken from the general ledger for CCC Manufacturing Company:

Genrish500 [490]

Answer:

FOH rate based on direct labor cost is 22.8%.

Explanation:

The computation of the factory overhead rate based on the direct labor cost is as follows:

Factory Overhead (FOH) Rate on Direct Labor Cost is

= Total Estimated Factory Overheads ÷ Direct Labor Cost × 100

= [$32,000 + $25,000] ÷ $250,000 × 100

= $57,000 ÷ $250,000 × 100

= 22.8%

Therefore, FOH rate based on direct labor cost is 22.8%.

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3 years ago

The CEO of Mabel Automobiles was the child of parents who had difficulty making enough money to support their family. As a resul

m_a_m_a [10]

Answer:

A. upper-echelons theory

Explanation:

Upper echelons theory postulates that too executives of a company view situations in a highly personalised way that is as a result of their experiences, values, and personalities.

The CEO of Mabel emphasized making affordable, low-maintenance vehicles that could be bought by low-income households.

This decision was as a result of his childhood experience where his parents had difficulty providing money to support the family.

He empathized with low income households, and wanted to provide goods that will help them

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3 years ago

Which type of partnership should Adam and Donna choose?

oksian1 [2.3K]

Answer:

The suggestion from Donna would be <u>Limited Partnership</u> business structure.

Explanation:

Limited Partnership is the type of partnership where the business entities are authorised by the state. In this partnership, there is atleast one general partner who is involved in the day-to-day running of the business while the other partner(s) provides money but do not contribute towards the day-to-day running.

<em>This is the most common for partners who only want financial returns in a business rather than being bugged down with the debts and liabilities associated with the business.</em>

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3 years ago

Ricardo construction began operations on december 1. in setting up its accounting procedures, the company decided to debit expen

oksian1 [2.3K]

Answer:

Answer to every question is in the explanation section

Explanation:

a) On December 1 supplies are purchased for 2000$ cash.

b) Insurance premiums of the company were prepared for $1,540 cash on December 2.

c) The company received an advance payment of 13000$ cash on December 15.

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e) The company has $1,840 of supplies accessible.

f) Insurance policy analysis shows that 340$ insurance coverage has expired.

3) 5570$ advance cash was received for a remodeling project

3 0

3 years ago

What is partnership.List the advantages and disadvantages of partnership.​

What is partnership.List the advantages and disadvantages of partnership.