Illustrate the advantage and disadvantage of Partnership
Illustrate the advantage and disadvantage of Partnership?
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Advantages: easy to organize; greater specialization; better access to financial resources than proprietorships.
Disadvantages: some of the same shortcomings of the proprietorship; possible difficulties in sharing management responsibilities; still limited financial resources; problems if one of the partners leaves; still unlimited liabilities.
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Economic Territory: This refers to the region of a country where there is a free movement of goods, capital and human resources.
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