Randy and Mandy plan to pool their money and musical talents to form a general partnership and begin booking weekend gigs.One of the first things Randy and Mandy should do is:
A) Seal the deal with at least five night spots where they can book three months worth of gigs.
B) Consult an attorney and put their agreement in writing.
C) Pay the partnership formation fee to their state's commerce commission.
D) File the limited liability paperwork at the court house in the county in which their partnership will be formeD.One problem with a partnership is the potential for disagreements and misunderstandings among the partners.Consulting an attorney and getting the agreement in writing helps minimize the risk of such problems.
Correct Answer:
Verified
Q208: Which of the following is an advantage
Q221: Which of the following is an advantage
Q223: Which of the following statements about the
Q226: Jim is one of several general partners
Q227: Travis has agreed to invest $16,000 in
Q236: Which of the following is not a
Q241: A major advantage of S corporations is
Q243: The board of directors for a corporation
Q253: Compared to partnerships and sole proprietorships,a major
Q258: A separation between ownership and management is
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents