One Difference Between Partnerships and Sole Proprietorships Is That Partnerships

question 247

Multiple Choice

One difference between partnerships and sole proprietorships is that partnerships

• A) take less effort to form.
• B) are managed by an elected board of directors.
• C) have the advantage of limited liability.
• D) have a greater chance of long-term survival due to the accountability of each partner to the other.

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Definitions:

Social Development

The process of learning to interact with others and understanding social norms and behaviors.

Peer Relationships

Social connections between individuals of the same age group, important for emotional and social development.

Role of Peer

The influence that peers exert on an individual's beliefs, attitudes, and behaviors, often playing a significant part in social development.