Question

Amy, Jan, and Beth have decided to combine

their talents in a business partnership. One of the benefits they'll have over a sole ownership is
A. less paperwork.
B.less personal financial liability.
C. shared resources.
D. greater individual authority,

Answer 1

C. shared resources.

Step-by-step explanation:

A partnership is a form of business ownership. Partners contribute funds and their expertise towards the success of their business. They are able to put together a large sum of capital than they would raise as individuals. A partnership is formed and managed through the combined efforts of the partners.

A sole proprietor is a one-person venture. The owner sources for the capital and makes all business decisions by themselves. Unlike in sole proprietorship, a partnership has the advantage of shared resources and responsibilities. Partners can brainstorm and share ideas on how to improve the performance of their business.