Flashcard Set Preview
| Side A | Side B | ||
| 1 |
When in a partnership, is it easier to make bad decisions?
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No
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| 2 |
One advantage in a partnership is two or more people can cover more managerial _______.
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Expertise
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| 3 |
How easy is it to start?
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Fairly Easily.
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| 4 |
How much more capital can be sourced?
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Much mroe because instead of one person contributing, there is two or more.
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| 5 |
If a business wants to wrap up, is it easy to do?
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Yes
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| 6 |
If a partner is ceased, the business ____.
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Fails
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| 7 |
IS there a limited startup cost to this business?
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Yes
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| 8 |
How many formalities are there?
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Few
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| 9 |
What happens if partners have different opinions?
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Arguements can arise.
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| 10 |
Are you personally liable for debts?
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Yes.
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| 11 |
How hard is it to attract investors?
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Hard
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| 12 |
IS there nearly as much control as a soel proprietorship? Why?
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No, because there are more bosses.
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| 13 |
Do you gain as much profit as a sole proprietorship if successful?
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No.
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| 14 |
One disadvantage is that you have to _____ partners and can't make your own decisions.
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Consult
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| 15 |
6th period
Accounting
Daniels
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Zachary Caldwell
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