Quarrels among business associates have become common. The associates quarrel over what products the firm should sell, division of authority, selection of personnel, whether to bring family members into the business, whether to expand, and who is contributing most to the firm's success. Such feuding, which damages business relationships, occurs most frequently in what form of business?

Question

Business

Anton Friedman

20 September, 11:19

Quarrels among business associates have become common. The associates quarrel over what products the firm should sell, division of authority, selection of personnel, whether to bring family members into the business, whether to expand, and who is contributing most to the firm's success. Such feuding, which damages business relationships, occurs most frequently in what form of business?

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Answers (1)

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Tania · Answer 1

Answer: Partnerships

Explanation:

A partnership is a legal form of business operation created between two or more individuals with a common goal, who are to share management and profits.

There are two recognized types of partnerships. The types of partnerships are general and limited partnerships.

In a general partnership, each of the partners controls the firm and assume full responsibility for the companies debts and profits.

In a limited partnership there is the presence of both the general and limited partners. The general partner owns and control the day to day running of the business and takes responsibility for the company, while the limited partners play the role of investors only; they posses little or no control over the firm and do not share the same liabilities as the general partners.