One Advantage of a Partnership Over a Corporation Is

question 112

Multiple Choice

One advantage of a partnership over a corporation is:

• A) greater accountability.
• B) limited liability.
• C) increased ability to get funds.
• D) the ability to share the work and risks of business.

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Definitions:

Capital

Refers to financial assets or resources that individuals, companies, or governments use to fund their operations and invest in their own growth.

Classification

The systematic arrangement of business transactions or accounts into categories for reporting and analysis purposes.

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance based on accounting rules.

Accounts Payable

Liabilities or amounts owed by a business to its suppliers for goods and services received but not yet paid for.