What is a possible benefit of partnership in business?
Answer and explanation
Correct answer: Resources, skills, and responsibilities can be shared
In a partnership, two or more persons agree to carry on a business and can contribute different funds, skills, contacts, and efforts. Sharing responsibilities may improve decision-making and operating capacity, although partnership also involves obligations and possible disagreements. Option A states a possible benefit; the other options are not inherent benefits and legal rules do not disappear.
Frequently asked questions
What is the correct answer to this question?
Resources, skills, and responsibilities can be shared
Why is this the correct answer?
In a partnership, two or more persons agree to carry on a business and can contribute different funds, skills, contacts, and efforts. Sharing responsibilities may improve decision-making and operating capacity, although partnership also involves obligations and possible disagreements. Option A states a possible benefit; the other options are not inherent benefits and legal rules do not disappear.
Which subject and chapter does this question cover?
This is a Class 11 Business Studies question. Chapter: Forms of Business Organisation. Topic: Partnership.
