1. Compare and contrast the advantages and disadvantages between a C-corporation and a general partnership.
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A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
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Q: How much is the capital of Adee upon partnership formation?
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Q: Define each of the following terms: a. Sole proprietorship; partnership; corporation
A: Note: I am providing the solution to the first question only. Please repost the remaining questions…
Q: Explain the advantages and disadvantages of the partnership versus the corporate form of business.
A:
Q: Which of the two is better especially in terms of convenience, a partnership or a close corporation
A: In partnership firm there are number of partners who share assets and laibilties and profit or loss…
Q: Briefly introduce the legal nature of partnerships and companies, with emphasis on the contractual…
A: In a partnership, two or more parties agree to operate and manage a business and share the profits…
Q: ■ What are the key differences between proprietorships, partnerships,and corporations? Be sure to…
A: Introduction: Sole proprietorship: Sole proprietorship is a type of business in which a person…
Q: Describe some special types of partnerships and corporations, andexplain the differences among them.
A: The types of partnerships and corporations are General partnership: The general partnership is…
Q: Describe the Advantages and Disadvantages of Organizing as a Partnership from an accounting view
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Q: a. Sole Proprietorship b. Partnership c. Corporat
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Q: ESSAY: Differentiate Corporation from Partnership
A: Introduction:- Corporations is different from partnerships, there are many differences in each…
Q: Discuss the nature of partnership?
A: “Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: In comparison with the single proprietorship form of organization, the partnership form offers which…
A: A partnership is an agreement between two or more parties to carry out a business with the intent of…
Q: In partnership, partners act in common or act as an agent to one another . What does this mean??
A: The law of agency applies to a partnership and the statement "partners act in common or act as an…
Q: Which financial statement of a partnerships reflect the financial result of the business
A: Financial statements prepared by the Partner ship firm include - Trading and profit and loss account…
Q: What are the key differences among proprietorships, partnerships, and corporations?
A: Sole proprietorship: This form of business is possessed by one person who creates all the business…
Q: Explain in paragraph form the advantages and disadvantages Sole proprietorship Partnership…
A: Introduction: A sole proprietorship is the most basic business structure, in which one person serves…
Q: Help Save & E According to the Uniform Partnership Act, the three key elements of any general…
A: Partnership is a form of business organization wherein two or more people join hands to run a…
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A: Proprietorship is usually owned by a single individual wherein the obligation is unlimited.…
Q: A partnership whose main activity is rendering services (examples include public accounting firms,…
A: Partnership: Partnership is a form of business organization in which two or more than two…
Q: What is the difference between a general partnership and a limited liability company? When might…
A: Partnership means where two or more person come togather to do some business and earn profits and…
Q: partnership
A: Form of Business :- Sole proprietorship :- Partnership :- Limited liability partnership :- Companies…
Q: 1) The objective of preparation of income statement of partnership is: a. To show the ratio of…
A: Answer: The objective of preparation of income statement of partnership is to identify the revenue…
Q: Distinguish Partnership from Corporation. Explain each
A: Partnership is an agreement between two or more persons in which they invest capital, run business…
Q: In what ways does a shareholders of a corporation differ from a partner in a partnership
A: Corporation is the legal entity which is governed as per the respective country's law or regulating…
Q: Two of the business organizational forms your book talks about are limited liability company (LLC)…
A: limited liability company - It is a company wherein if any debt arises of the business then the…
Q: what are the advantages of an LLC versus operating as a general partnership and limited partnership
A: LLC refers to the limited liability corporation, here the owners of the corporation are not…
Q: Can a partnership be continued by a corporation involving the same members and properties?
A: yes, partnership can be continued by a corporation by conversion from partnership firm to body…
Q: Discuss the advantages and disadvantages of forming a partnership as opposed to a sole proprietor.
A: In partnership there are 2 or more persons working as a partners and sharing profit or loss among…
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A: Describe the benefits and drawbacks of operating a business through a partnership rather than a…
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A: Partnership It is that form of organization which is owned and managed by two or more persons who…
Q: What are the main advantages of (a) proprietorships, (b) partnerships, and (c) limited liability…
A: Proprietorship is a form of business where a single person runs & owns the business. He has…
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Q: Highlight differences between partnership and limited company?
A: The difference between partnership qnd Limited company is as below.
Q: he advantages and disadvantages Sole proprietorship Partnership Corporation
A: There are many forms of organization each have own advantage and each have own disadvantages.
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A: There are several forms of business organisation. These are sole proprietorship, partnership and…
Q: What are the legal similarities and differences of a Limited Partnership and a General Partnership?…
A: The legal similarities of a limited partnership and the general partnership are as follows: Income…
Q: Explain what the problem is with being a general partner in a partnership.
A: Since you have asked multiple question, we will solve the first question for you. If you want any…
Q: Describe the difference between a sole proprietorship, a partnership, and a corporation?
A: Ownership- Ownership is the condition or fact of legal control and control over possessions, which…
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- Mutual agency is defined as: A. a mutual agreement B. the right of all partners to represent the companys normal business operations C. a synonym for partnership D. a partnership between two partnershipsA well written partnership agreement should include each of the following except ________. A. how to settle disputes B. the name of the partnership C. division of responsibilities D. Partners individual tax rateWhich of the following is a disadvantage of the partnership form of organization? A. limited life B. no taxation at the partnership level C. flexibility in business operations D. combining of financial resources
- Briefly introduce the legal nature of partnerships and companies, with emphasis on the contractual principles governing the formation and discharge of partnership agreement.Question based on the picture attached (b) Explain any three (3) costs and benefits of partnerships/proprietorships as compared to corporation. Give your opinion which type of organizational structure is preferable.Choose the correct. Which of the following best describes the articles of partnership agreement?a. The purpose of the partnership and partners’ rights and responsibilities are required elements of the articles of partnership.b. The articles of partnership are a legal covenant and must be expressed in writing to be valid.c. The articles of partnership are an agreement that limits partners’ liability to partnership assets.d. The articles of partnership are a legal covenant that may be expressed orally or in writing, and forms the central governance for a partnership’s operations.
- Question 1: Define and discuss each of the following by providing at least 2 practical examples: a) Professional corporation ; Limited Partnership; Limited Liability partnership;COMPANY AND PARTNERSHIP LAW GROUP ASSIGNMENTINSTRUCTIONAll students must participate in their Group’s work. Each Group should submit its work together with a list of group members.QUESTION“In all partnerships, whether it is expressed in the deed or not, the partners are bound to be true and faithful to each other.” (Per Lord Eldon, Const vrs. Harris (1924) 37 Er 119).What does this statement mean in terms of section 34 of Act 152 of the ghanaian constitution.Two of the business organizational forms your book talks about are limited liability company (LLC) and partnership. What is a limited liability company (LLC)? And how does it differ from partnership? Identify three ways in which they differ, Be brief and to the point.
- Which of the following statements is most true? a. The liability for other partners’ wrong doings is limited to the amount a particular partner has invested in the partnership. b. Partnerships are formed in accordance with specific guidelines that include the filing of a formal written agreement to the government. c. A fast growing firm would be more probable to establish a partnership as its business form than would a slow growing firm. d.Corporations can easier attract investors than those of the partnership and sole proprietor businesses.Indicate what is the difference between a general partnership and a limited liability company and when might each type of entity be used by completing the table below. Classify each characteristic as belonging to a "General partnership", a "Limited liability company", or both a "General partnership and limited liability company". Characteristic belongs to ... a. Partners are considered members b. Permitted to participate in management of the entity c. Creditors collect from both partnership assets and partners. d. The partners have unlimited liability for the entity's debt. e. Absent a personal guarantee, no liability for the entity's debt. f. Usually used for corporate joint ventures where the corporate partners are established with limited assets.In general, a partnership is described as a legal relationship that exists between two or more people who carry on a joint business with the goal of benefit. (a) Describe the different types of partners and their characteristics. (attached point form answer for this question; kindly assist me to elaborate more on each points) (b) Determine the conditions that must be met for a partnership to exist.(attached point form answer for this question; kindly assist me to elaborate more on each points)