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Unformatted text preview: 5. The most signifcant recent trend is the rapid emergence oF: electronic commerce 6. The biggest advantage oF corpora±ons is: limited liability 7. Corpora±on can be classifed as either: public or private 8. What is the major disadvantage oF sole proprietorships? Unlimited liability, sole proprietors are held personally responsible for all debts incurred by the business. 9. In a partnership, what is a silent partner? A partner that invest all of the funds for the business but has not part in the management of it. 10. What is the most striking advantage oF general partnerships? Ability to grow by adding new talent and money 11. What is the greatest drawback oF a general partnership? Unlimited liability 12. Why do groups of sole proprietorships or partnerships agree to work together in cooperaTves? Because it combines the freedom of sole proprietorship with the Fnancial power of corporaTons....
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- Spring '14
- Business Law, Corporation, Types of companies, Legal entities, new ventures