Compare general, limited, and limited liability partnerships. formulate reasons as to why a group of prospective partners might choose each.(4 points)

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07-04-2022
Social Studies

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Compare general, limited, and limited liability partnerships. formulate reasons as to why a group of prospective partners might choose each.(4 points)

Sagot :

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Chibuikeumehidn Chibuikeumehidn · Answer 1 · 2022-04-14T05:38:38-04:00

The general partnership is the type where the partners are actively involved in the management and makes decision on the company's behalf.

The limited partnership is when a partner is an investor in the business but is involved in the day-to-day operations. This has both a general partner and a limited partner.

The limited liability is the most common type where the partnership protects the personal assets of the partners so they may not be used to satisfy business debts and liabilities.

What is partnership?

It is an arrangement where business partners agree to cooperate to advance their mutual interest.

Reasons for choosing the limited partnership:

Raising capital for business from a small group of investors.
Being able to maintain full control from passive investors.
Good way to raise expansion capital.
As a general partner, investments can come from family and friends.

Sagot :

What is partnership?

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