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Homework answers / question archive / Which of the following is an advantage of a general partnership when compared to a corporation? a

Which of the following is an advantage of a general partnership when compared to a corporation? a

Business

Which of the following is an advantage of a general partnership when compared to a corporation?

a.) The partnership is more likely to have a net income.
b.) The partnership is relatively inexpensive to organize.
c.) Creditors to a partnership cannot attach personal assets of partners.
d.) The partnership usually hires professional managers.

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Let's evaluate each statement and find which statement is true.

Statement True or False Explanation
a.) The partnership is more likely to have a net income. False Net income is not generally affected by the business' structure
b.) The partnership is relatively inexpensive to organize. True Partnerships generally have lower startup costs compared to corporations
c.) Creditors to a partnership cannot attach personal assets of partners. False General partner's assets are available to creditors to pay off debts
d.) The partnership usually hires professional managers. False Partnerships are generally less complicated in structure and are more likely to be managed by their owners.

We find that the correct answer is b.) The partnership is relatively inexpensive to organize.

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