What advantages may occur for the family members in firm

Reference no: EM132011333

Question: Second only to the sole proprietorship, the partnership is among the oldest of business entities to develop. By the time of the development and implementation of the English Common Law in the 16th Century, the law of business partnerships was already highly developed. This was the case despite the fact that a majority of partnership business owners were illiterate.

In businesses that involve numerous members of the same family, the preferred business choice of conduct is the partnership. What advantages may occur for the family members by conducting business in this form? Can you think of any potential problems that may occur when family members conduct business in the form of a partnership? Would the other business entities of sole proprietorship or incorporation fare any better? Explain your reasons.

Reference no: EM132011333

Questions Cloud

What is their marginal tax rate for making this decision : Jean and Jim are married and file a joint return. What is marginal tax rate for making this decision? What is their tax savings if they acquire the residence

Determine the potential evidence you would request : Explain the processes you would use to seize, search, collect, store, and transport devices and other potential sources of evidence.

How many transfers per year will be required : How many transfers per year will be required? Round your answer to the nearest whole number. One approximately every days.

Find the binding energy mev for radium : Find the binding energy MeV for radium-226 (atomic mass = 226.0254 u). The mass of a proton is 1.007276 u and the mass of an neutron is 1.008665 u.

What advantages may occur for the family members in firm : In businesses that involve numerous members of the same family, the preferred business choice of conduct is the partnership. What advantages may occur.

Different sets of quantum numbers are possible : How many different sets of quantum numbers are possible for an electron for which n=1, n=2, n=3, n=4 & n=5?

Identify three ethical responsibilities expected from person : Identify three ethical responsibilities expected from persons such as attorneys, the court, and others, when protecting an expert witness in a case.

Radioactive isotope undergoes radioactive decay : A 2.0 gram sample of a radioactive isotope undergoes radioactive decay. If the half life of the isotope is 45 minutes

What was the price of the bonds on given dates : What was the price of the bonds on January 1, 1992, 5 years later, assuming that interest rates had fallen to 10%?

User Account

All Pages