Sole proprietorship and Partnership

• Economie
• Tertiary Education

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Section7.1:

Sole Proprietorship and Partnership

Pages  153-157

Objectives

Describe a partnership business

Differentiate between general and limited partners

Discuss the advantages and disadvantages of partnership

What is a partnership?

What kind of professionals set up a partnership businesses?

The partnership can draw
on the skills, ________________, and financial resources of more than one person.

1. Patience
2. Leadership
3. knowledge
4. Disputes

Videos

https://study.com/academy/lesson/what-is-a-limited-partnership-definition-advantages-disadvantages.html

Find the difference between general and limited partners

The law requires that all partnerships have at least ______general partner.

If the limited liability partner in managing the business what would happen to his limited liability status?

Divide yourself into two groups

Debate on the advantages and disadvantages of partnership.

Answer here

The business
is likely to survive only when specific ___________have been placed in
the partnership agreement.

1. features
2. profile
3. characteristics
4. provisions

What are the technical disadvantages of partnership?

What are the important points of the lesson?