Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
Which of the following is a disadvantage of a business partnership?
Which of the following is a disadvantage of a business partnership?
- Ease of formation
- Limited liability for partners
- Shared decision-making
- Unlimited personal liability (correct)
What is a legal requirement for creating a partnership agreement?
What is a legal requirement for creating a partnership agreement?
- Written agreement (correct)
- Handshake agreement
- Verbal agreement
- Notarized agreement
What is the impact of partnership laws on partners' ability to modify partnership terms?
What is the impact of partnership laws on partners' ability to modify partnership terms?
- Partners cannot modify terms
- Partners can modify terms with majority consent
- Partners can modify terms without consent
- Partners can modify terms with unanimous consent (correct)
How can a partnership be dissolved?
How can a partnership be dissolved?
Signup and view all the answers
What is a limited partnership?
What is a limited partnership?
Signup and view all the answers
Flashcards are hidden until you start studying
