Ask Question
21 June, 09:55

Will and bill both enjoy sunshine, water, and surfboards. thus, the two friends decided to create a business together renting surfboards, paddle boats, and inflatable devices in california. will and bill will equally share in the decision making and in the business profits or losses. which type of business did they create if they both have full personal liability for the firm's debts?

+4
Answers (1)
  1. 21 June, 11:51
    0
    This is a general partnership. A general partnership is formed when business partners share responsibilities and profits gained through the partnership. Everything is divided equally to prevent arguments or disputes. The one downside to general partnerships are that they make everyone involve liable. If a debt is created by one partner, the other partner is liable for the debt as well.
Know the Answer?
Not Sure About the Answer?
Find an answer to your question ✅ “Will and bill both enjoy sunshine, water, and surfboards. thus, the two friends decided to create a business together renting surfboards, ...” in 📘 Business if you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers