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Essay's paper info
| Topic: |
History
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| Number of pages / Number of words: |
11 / 2852 |
Essay's paper body
Business terminates immediately upon death of owner
C. Partnership: An association of two or more individuals coming together as co-owners to operate a business for profit.
1. Two types of partnerships
a. General partnership: Relationship between partners is dictated by the partnership agreement.
l...
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Advantages
a. Minimal organizational requirements
b. Negligible government regulations
2. Disadvantages
a. All partners have unlimited liability
b. Difficult to raise large amounts of capital
c. Partnership dissolved by the death or withdrawal of general partner
b. Limited partnership
l. Advantages
a...
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