🏷️ LIMITED TIME OFFER: GET 20% OFF GRADE+ YEARLY SUBSCRIPTION →
Log in
HomeStudy Guides420,000CA160,000

AFM131 Study Guide - Final Guide: Small Business, Reward System

63 views3 pages
aquamarinecat824
16 Oct 2011
School
University of Waterloo
Department
Accounting & Financial Management
Course
AFM131
Professor
Robert Sproule

For unlimited access to Study Guides, a Grade+ subscription is required.

qq919649100 and 39920 others unlocked
AFM131 Full Course Notes
22
AFM131 Full Course Notes
Verified Note
22 documents

Document Summary

Right of first refusal: if a partner wishes to leave the partnership, they must first offer their share to the remaining partner (before selling it to an outside party) The other partner has invested lots of time and interest in the company, they have the knowledge, perspective, skill set, etc. When one partner wants to dissolve the partnership, he first gives the other partner the option to buy him out but if that is not possible, he must buy his partner out. No commitment other than monetary (daily involvement) You are only liable for the money you invest in the partnership (risk tolerance) How you choose to run your business. There are few restrictions on the type of business that can become a franchise. Small business has a pretty important role in supporting growth and development of entrepreneurship. Value of a small business: what it owns, what it earns, what makes it unique.

Get access

Grade+20% off
$8 USD/m$10 USD/m
Billed $96 USD annually
Grade+
Homework Help
Study Guides
Textbook Solutions
Class Notes
Textbook Notes
Booster Class
40 Verified Answers

Related Documents

AFM131
Final Exam
Study Guide
AFM131 Final: Exam Notes
AFM131
Final Exam
Study Guide
AFM131 Study Guide - Final Guide: Sole Proprietorship, Canadian National Railway, Foreign Direct Investment
ceruleanserval636
COMM 103 Lecture Notes - Lecture 17: General Partnership, Market Analysis, Kaustinen
lilaccattle164

Related Questions

41) You and your best friend decide to start a business as a partnership. You are advised to create a partnership agreement, and that the partnership agreement should clarify: a) b) c) that the liability of each partner is limited. if a partner dies, how the heirs can take over the business. how much each of partner invested what, what their responsibilities are, and how the partners will distribute any profits. how the partnership can be dissolved. d)

38) You and your best friend decide to start a business as a partnership. You are advised to create a partnership agreement, and that the partnership agreement should clarify: a) b) c) that the liability of each partner is limited. if a partner dies, how the heirs can take over the business. how much each of partner invested what, what their responsibilities are, and how the partners will distribute any profits. how the partnership can be dissolved. d)

33) Which of the following statements about partnerships is false? a) b) c) it is easier to borrow money than a sole proprietorship a partner cannot sell their interest without the other partners' consent general partnerships are limited to ten partners the partnership terminates upon the death of a partner a partner cannot retire without the other partners' consent e)