Partnerships Economics. no stupid answers please.?

1. What percentage of all businesses are partnerships? (1 point)

2 percent

7 percent

15 percent

25 percent

2. What is a major advantage of a business that is a partnership rather than a sole proprietorship? (1 point)

The responsibility for the business is shared.

The business is easy to start up.

The partners are not responsible for the business debts.

The business is easy to sell.

3. What is the difference between a limited partnership and a limited liability partnership? (1 point)

In a limited partnership, every partner is responsible for the company's actions.

In a limited partnership, partners cannot lose the money they have invested.

In a limited liability partnership, only one partner manages the business.

In a limited liability partnership, all partners are limited from liability in some situations.

4. What are assets? (1 point)

suits against a partnership

absolute control over a company

money and other valuables

taxes that apply to a partnership

5. How is a general partnership organized? (1 point)

Every partner shares equally in both responsibility and liability.

The doctors, lawyers, or accountants who form a general partnership hire others to run the partnership.

No partner is responsible for the debts of the partnership beyond his or her investment.

Only one partner is responsible for the debts of the partnership.