Uploaded by Gautam Dugar

Week 1 Partnerships and Sole Traders

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Cfavoured accounting
Leg
famility
stock exchange
majority
unlimited traditional
weed good
accountants
S lawyers
turnover is
pay if business
morethan
851000
anau
keep
all of it
no
protection
source
Gt
advantages
dueto scale of
increased level of production
of income
operations
is
gone due to
pandemic
legal
POV same as
sole traider
no
legal protection
a partnership
an agreement
wise to sign
butdifficult to prove
Imp
whathappen
in
if partner want
contract
to
retire or
is
expelled
or expensivesolutions
arrangement
wetral
c
court
100
agreement
secret profit
must
have insurance covered
Acommon
sense
takes
out a loan
fixed time
ends after
sue all thepartners
minimum 2 partners
some have
max 20
lack ofprivacy
legal
documents
account
cansue partner may
not succeed
are
tax
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