Question $2(1\mathrm{.}6$ points$)$

Compared to a sole proprietorship, which of the following is considered an advantage of a general partnership?

ability to pool financial resources

division of profits among owners

ease and flexibility in transferring share of ownership to others

unlimited liability for all owners

Question $3(1\mathrm{.}6$ points$)$

The process of setting up individual functional units of the business to do specialized tasks is called:

job specification

division of labor

departmentalization

delegation of authority