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Olenka [21]
3 years ago
9

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.

<h3>HOPE IT HELP....❣❣❣</h3>
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2 years ago
Target Profit Beard Company sells a product for $15 per unit. The variable cost is 10 per unit, and fixed costs are 1,750,000. D
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Answer:

a. Break-even point in sales units = 350,000 units

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Working note:- Contribution margin = $15 - $10 = $5

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