Question

What advantages does a partnership have over a sole proprietorship?

Answer 1

A partnership has several advantages over a sole proprietorship: It's relatively inexpensive to set up and subject to few government regulations.


Partners pay personal income taxes on their share of profits; the partnership doesn't pay any special taxes.

Answer 2

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Since a Partnership is composed of two or more individuals, a lesser contribution of capital is required from each partner.

On the other hand, the owner of a Sole Proprietorship must provide the entire capital himself.


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Answer - By Choudhary21