Which of the following is an advantage of a general partnership when compared to a corporation?...
Which of the following is an advantage of a general partnership when compared to a corporation?
a.The partnership usually hires professional managers.
b.The partnership is relatively inexpensive to organize.
c.A partnership is more likely to have a positive net income.
d.Creditors to a partnership cannot attach personal assets of partners.
Homework Answers
Correct Answer : b) The Partnership is relatively inexpensive to organize.
Reason: A Partnership is easy and less complex, it involves less compliances, therefore it is relatively inexpensive to organize.
Other options wrong because :
a) A Corporation hires professional managers not partnership.
c) A Corporation is more likely to have a positive Net Income.
d) Creditors of a Corporation cannot attach personal assets
In case of any doubts or issues, please do comment below
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