Omar Soliman and Nick Friedman are founding partners of their company, College Hunks Hauling Junk LLC. Assume
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1. What details should Omar, Nick, and their future partners specify in the general partnership agreements?
2. What advantages should Omar, Nick, and their future partners be aware of with respect to organizing as a general partnership?
3. What disadvantages should Omar, Nick, and their future partners be aware of with respect to organizing as a general partnership?
Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...
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1 Omar Nick and their future partners would be wise to construct an agreement that includes the foll...View the full answer
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Somshukla Chakraborty
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Related Book For 
Financial and Managerial Accounting Information for Decisions
ISBN: 978-1259347641
5th edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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