Examlex

Solved

Discuss the Differences in the Continuity of Business for Sole

question 108

Essay

Discuss the differences in the continuity of business for sole proprietorships, partnerships, and corporations.


Definitions:

Product Service

A combination of physical products and services provided as a bundle to meet a consumer's need or desire.

Limited Partnership

A form of partnership consisting of at least one general partner who manages the business and assumes legal debts and obligations, and one or more limited partners who are liable only to the extent of their investments.

General Partner

An owner of a partnership who is actively involved in its management and has unlimited personal liability for the business debts.

Business Management

The activities associated with running a company, such as planning, organizing, directing, and controlling, to achieve business objectives.

Related Questions