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What is a key advantage of a partnership?
What is a key advantage of a partnership?
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Practice Questions
1 question
Q1
What is a key advantage of a partnership?
Unlimited liability
Shared decision-making
Limited resources
Complex tax structure
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In a partnership, decision-making is shared among partners, which can lead to more diverse ideas and solutions.
Questions & Step-by-step Solutions
1 item
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Q: What is a key advantage of a partnership?
Solution:
In a partnership, decision-making is shared among partners, which can lead to more diverse ideas and solutions.
Steps: 5
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Step 1: Understand what a partnership is. A partnership is when two or more people work together in a business.
Step 2: Recognize that in a partnership, all partners share the responsibility of making decisions.
Step 3: Realize that sharing decisions means that each partner can contribute their own ideas and perspectives.
Step 4: Acknowledge that having different ideas can help solve problems better and create more innovative solutions.
Step 5: Conclude that the key advantage of a partnership is the shared decision-making, which leads to diverse ideas and solutions.
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