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identify the weaknesses of a partnership
1. each partner is fully responsible for the acts of all other partners
2. limited partnership where investor's responsibility for the debts of the business is limited by the size of his or her investment in the firm
3. the potential for conflict between parners
describe the difference between a horizontal and a vertical merger
Horizontal: takes place when two or more firms that produce the same kind of product join forces. "banks merging"
Vertical: when firms involved in different steps of manufacturing or marketing join together. "tire company and automaker merging"
describe the difference between a nonprofit institution and other forms of business organizations
Which do you think is more appropriate-- the direct or indirect role of government? defend your position
what is the difference between unlimited liability of proprietorships and partnerships, and the limited liability of corporations
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