Chapter 19 19.2 The advantages and disadvantages fo partnership businesses

Advantages 1. ..................................... is available 2. Additional knowledge, experience and skills are available. 3. The responsibilities are shared. 4. The risks are shared. 5. Discussions can take place before decisions are taken.

Additional finance

Advantages 1. Additional finance is available 2. .................................................... are available. 3. The responsibilities are shared. 4. The risks are shared. 5. Discussions can take place before decisions are taken.

Additional knowledge, experience and skills

Disadvantages 1. Profits have to be shared among the partners. 2. Decisions have to be recognised by all partners. 3. decisions may take longer to put into effect. 4. One partner's actions on behalf of the business are binding on all the partners. 5. ................................can occur. 6. All partners are responsible for the debts of the business.

Disagreements

Advantages 1. Additional finance is available 2. Additional knowledge, experience and skills are available. 3. The responsibilities are shared. 4. The risks are shared. 5. .................................. can take place before decisions are taken.

Discussions

Disadvantages 1. Profits have to be shared among the partners. 2. Decisions have to be recognised by ............................. 3. decisions may take longer to put into effect. 4. One partner's actions on behalf of the business are binding on all the partners. 5. Disagreements can occur. 6. All partners are responsible for the debts of the business.

all partners

Disadvantages 1. Profits have to be shared among the partners. 2. Decisions have to be recognised by all partners. 3. decisions may take longer to put into effect. 4. One partner's actions on behalf of the business are .................. on all the partners. 5. Disagreements can occur. 6. All partners are responsible for the debts of the business.

binding

Disadvantages 1. Profits have to be shared among the partners. 2. Decisions have to be recognised by all partners. 3. decisions may take longer to put into effect. 4. One partner's actions on behalf of the business are binding on all the partners. 5. Disagreements can occur. 6. All partners are responsible for the ............... of the business.

debts

Advantages 1. Additional finance is available 2. Additional knowledge, experience and skills are available. 3. The responsibilities are shared. 4. The risks are shared. 5. Discussions can take place before .......................... are taken.

decisions

Disadvantages 1. Profits have to be shared among the partners. 2. Decisions have to be recognised by all partners. 3. decisions may take ................. to put into effect. 4. One partner's actions on behalf of the business are binding on all the partners. 5. Disagreements can occur. 6. All partners are responsible for the debts of the business.

longer

Advantages 1. Additional finance is available 2. Additional knowledge, experience and skills are available. 3. The ................................ are shared. 4. The risks are shared. 5. Discussions can take place before decisions are taken.

responsibilities

Advantages 1. Additional finance is available 2. Additional knowledge, experience and skills are available. 3. The responsibilities are shared. 4. The ............... are shared. 5. Discussions can take place before decisions are taken.

risks

Disadvantages 1. Profits have to be ................. among the partners. 2. Decisions have to be recognised by all partners. 3. decisions may take longer to put into effect. 4. One partner's actions on behalf of the business are binding on all the partners. 5. Disagreements can occur. 6. All partners are responsible for the debts of the business.

shared