Rama Singh and Allie Jordan are opening a business where they will create and sell packaged assortments of flavoured vinegars with recipe booklets. Since they are planning to operate as a partnership, which of the following represents the best course of action for them?
A) Hire a manager to operate the business.
B) Seek government assistance.
C) Borrow as much as possible.
D) Agree to share the business's profits and losses.

Question

Quizplus · Accepted Answer

Since they are operating as a partnership, it is important for Rama and Allie to agree to share the business's profits and losses. This will help ensure that both partners have a clear understanding of their roles and responsibilities, as well as their expected financial outcomes. Hiring a manager, seeking government assistance, or borrowing as much as possible may all be relevant strategies for running the business, but they are not necessarily the most important considerations for establishing and maintaining a successful partnership.

Rama Singh and Allie Jordan Are Opening a Business Where