When Comparing Partnerships to Sole Proprietorships,an Advantage of Partnerships Is

question 88

Multiple Choice

When comparing partnerships to sole proprietorships,an advantage of partnerships is that they:

• A)limited liability for the general partner.
• B)are easier to terminate.
• C)cost less to organize.
• D)give the firm a stronger financial foundation.

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Definitions:

Legal Challenges

Refers to obstacles or difficulties that arise in the application, interpretation, and enforcement of laws.

Broad Goals

Wide-ranging objectives that an organization aims to achieve over a long-term period.

Specific Goals

Refers to well-defined, precise, and measurable objectives that an organization or individual aims to achieve.

Critical Incident Method

A performance appraisal approach focusing on identifying and evaluating specific events (incidents) where the employee did something particularly well or poorly.