Compared to Sole Proprietorships, an Advantage of Partnerships Is Their

question 214

True/False

Compared to sole proprietorships, an advantage of partnerships is their ability to obtain more financial resources.

---

Definitions:

Demand Loan

A type of loan where the lender can demand repayment at any time.

Simple Interest Rate

A fixed percentage of the principal amount that is paid as interest for the use of borrowed funds, calculated on an annual basis without compounding.

Final Payment

The last installment paid on a loan, completing the payback of the total borrowed amount and any accrued interest.

Student Loans

Funds lent to students to help cover the cost of post-secondary education, which typically have to be repaid after graduation.