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Unformatted text preview: Disadvantages: proprietor personally liable for all business debts financing may be difficult transfer of ownership may be difficult Partnership- a business owned by two or more people Advantages: simple to establish shared control broader skills and resources tax advantages Disadvantages partners personally liable for all business debts transfer of ownership may be difficult...
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This note was uploaded on 03/01/2010 for the course ACCT 2301 taught by Professor White during the Spring '08 term at Central Texas College.
- Spring '08
- Financial Accounting