Which of the following is an advantage of a partnership?
A) Ease of starting and ending the business
B) Unlimited liability
C) Shared management and pooled skills
D) Little time commitment

Question

Quizplus · Accepted Answer

The advantage of a partnership is that it allows for shared management and pooled skills. This can lead to a higher overall level of expertise and decision-making ability within the business. A partnership also allows for the sharing of risks and rewards, which can be beneficial for both parties involved. However, partnerships can be difficult to start and end, and partners have unlimited liability for the business's debts and obligations. Additionally, partnerships require a significant time commitment from all partners involved.

Which of the Following Is an Advantage of a Partnership