A partnership can be changed to a corporation later,when profits are assured.

Question

Quizplus · Accepted Answer

This is true as partnerships can eventually transition into corporations once they become profitable and the business owners wish to take advantage of the benefits of incorporating such as limited liability and easier access to raising capital. However, it is important to note that this transition requires legal and tax considerations, and should be done with the guidance of professionals.

A Partnership Can Be Changed to a Corporation Later,when Profits