2 A group of accountants wish to form a business together. Which of the following types...

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2 A group of accountants wish to form a business together. Which of the following types of business arrangement would be most suitable to their needs? Limited liability partnerships Joint venture General partnership Franchise 4 Which of the following features is a disadvantage to incorporation? Flexible organizational structure Limited liability for shareholders Securities may be marketable Taxation rules are complex 3 Limited partners bear lower risk than general partners because: Limited partners receive more of the business' profit than general partners Limited partners are not required to pay taxes on their personal income Limited partners do not contribute capital to the business Limited partners are liable for up to only the amount they invested in the business 5 Which type of business arrangement involves two separate business entities pooling their resources to carry out a particular business transaction (one with a narrow scope)? General partnership Franchise. Joint venture Limited partnership 2 A group of accountants wish to form a business together. Which of the following types of business arrangement would be most suitable to their needs? Limited liability partnerships Joint venture General partnership Franchise 4 Which of the following features is a disadvantage to incorporation? Flexible organizational structure Limited liability for shareholders Securities may be marketable Taxation rules are complex 3 Limited partners bear lower risk than general partners because: Limited partners receive more of the business' profit than general partners Limited partners are not required to pay taxes on their personal income Limited partners do not contribute capital to the business Limited partners are liable for up to only the amount they invested in the business 5 Which type of business arrangement involves two separate business entities pooling their resources to carry out a particular business transaction (one with a narrow scope)? General partnership Franchise. Joint venture Limited partnership

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