Mr. Deli wants to start a small sandwich shop in his neighborhood. He has enormous amounts of cash that he inherited from his Uncle Walt, so there are no problems with financing the costs of the business.
1-    What is the basic difference between a general partnership and a limited partnership?
2-    What are the rules for establishing an LLC?
3-    What is the primary advantage of an LLC over a sole proprietorship or general partnership.

Answer rating: 100% (QA)

Answer A i The basic difference between a general partnership and a limited partnership is that a general partnership allows all owners to share in the operation of the business and assume liability f... View the full answer