11 Best Partnership Questions and Answers (Q&A) - ProProfs Discuss

What are the characteristic of a partnership?

Deltzx
Answered: Apr 19, 2024

Each partner has the power to obligate the partnership for liabilities.

1 Answer

966 views

Is the following true or false?A business partner may associate another person with him in his share but the person admitted shall not be admitted to the partnership without the consent of all...

Sweetbabybear
Answered: Feb 10, 2017

TRUE. A partner may associate 3rd person concerning of his share in the partnership, this known as sub-partner. A sub-partner cannot affect the partnership because he has no say the management to...Read More

2 Answers

868 views

What is true in regards to a corporation acquires juridical personality?

John Smith
Answered: Apr 19, 2024

Upon the issuance of the certificate of incorporation.

1 Answer

580 views

Can you complete the sentence?The articles of incorporation differ from the by-laws in that the articles of incorporation are ________?

John Smith
Answered: Apr 19, 2024

A condition precedent in the acquisition by a corporation of a juridical personality.

1 Answer

485 views

What is the preferred method of resolving a partner's deficit balance, according to the Uniform Partnership Act?

Deltzx
Answered: Apr 19, 2024

The partner with a deficit balance contributes personal assets only if those personal assets exceed personal liabilities.

1 Answer

382 views

What is the difference between Sole Proprietorship and LLC?

A. Samuel, Content Manager
Answered: Jul 16, 2019

Small business startup owners have important decisions to make in structuring their companies. The following are the significant differences between a Sole Proprietorship and a Limited Liability...Read More

2 Answers

322 views

What is the difference between LLP and Partnership?

Anika Nicole, Wordsmith
Answered: Sep 05, 2019

LLP means a Limited Liability Partnership. It can be regarded as a sub-form of the real partnership. The partnership is a form of business agreement in which two or more parties come together to...Read More

2 Answers

277 views

What are the types of corporate partnerships?

G.Kenneth
Answered: Jan 24, 2018

Corporate partnerships are also known as business structures. Just because you want to start a business, it doesn’t mean that you can use any structure. You will need to either consult a...Read More

2 Answers

276 views

Partnership Questions and Answers (Q&A)

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