What are the merits and demerits of partnership?

The main disadvantage of a general partnership is brainly

Advantages of PartnershipCapital u2013 Due to the nature of the business, the partners will fund the business with start up capital.

This means that the more partners there are, the more money they can put into the business, which will allow better flexibility and more potential for growth.

It also means more potential profit, which will be equally shared between the partners.

,Flexibility u2013 A partnership is generally easier to form, manage and run.

They are less strictly regulated than companies, in terms of the laws governing the formation and because the partners have the only say in the way the business is run (without interference by shareholders) they are far more flexible in terms of management, as long as all the partners can agree.

,Shared Responsibility u2013 Partners can share the responsibility of the running of the business.

This will allow them to make the most of their abilities.

Rather than splitting the management and taking an equal share of each business task, they might well split the work according to their skills.

So if one partner is good with figures, they might deal with the book keeping and accounts, while the other partner might have a flare for sales and therefore be the main sales person for the business.

,Decision Making u2013 Partners share the decision making and can help each other out when they need to.

More partners means more brains that can be picked for business ideas and for the solving of problems that the business encounters.

,Disadvantages of PartnershipDisagreements u2013 One of the most obvious disadvantages of partnership is the danger of disagreements between the partners.

Obviously people are likely to have different ideas on how the business should be run, who should be doing what and what the best interests of the business are.

This can lead to disagreements and disputes which might not only harm the business, but also the relationship of those involved.

This is why it is always advisable to draft a deed of partnership during the formation period to ensure that everyone is aware of what procedures will be in place in case of disagreement and what will happen if the partnership is dissolved.

,Agreement u2013 Because the partnership is jointly run, it is necessary that all the partners agree with things that are being done.

This means that in some circumstances there are less freedoms with regards to the management of the business.

Especially compared to sole traders.

However, there is still more flexibility than with limited companies where the directors must bow to the will of the members (shareholders).

,Liability u2013 Ordinary Partnerships are subject to unlimited liability, which means that each of the partners shares the liability and financial risks of the business.

Which can be off putting for some people.

This can be countered by the formation of a limited liability partnership, which benefits from the advantages of limited liability granted to limited companies, while still taking advantage of the flexibility of the partnership model.

,Taxation u2013 One of the major disadvantages of partnership, taxation laws mean that partners must pay tax in the same way as sole traders, each submitting a self assessment tax return each year.

,Profit Sharing u2013 Partners share the profits equally.

This can lead to inconsistency where one or more partners arenu2019t putting a fair share of effort into the running or management of the business, but still reaping the rewards.

which of the following is probably the most important reason for incorporating?

There are several reasons that make C++ one of the top languages.

Ill list some of them in any order:,C++ has no owner.

This is very important because many other languages u200bu200bbelong to a Corporation, therefore, the evolution of those languages u200bu200bis due to the economic interests of that Corporation.

Do not be confused: being open source is not the same as not having an owner.

,C++ is almost fully compatible with C.

C is one of the most important low-level languages u200bu200bin history.

C++ has the full power of low-level programming that C.

C++ allows you to compile a C program almost directly with the C++ compiler.

,C++ is high level of abstraction.

Being as low level as C, C++ is, at the same time, probably the most powerful high level of abstraction language that exist today.

,C++ is programming of multiple paradigms.

C++ supports structured programming, object-oriented programming, generic programming, functional and concurrency programming paradigms; integrating all those paradigms in a way that you can program simultaneously with them.

,C++ has constantly evolved.

C++ has being evolving constantly incorporating the most advanced current computer techniques.

Therefore, C++ is always a very modern new language but with 30+ years of history and experience.

,C++ has evolved maintaining almost total compatibility with the past.

From cfront, to C++98, to C++03, to C++11, to C++14, to C++17, to C++20 and to the programmed C++23; C++ has evolved respecting compatibility with the past, allowing programmers to grow without destroying existing programs.

,C++ has a very good documentation.

C++ has fully free online easiest to read programming documentation, and at the same time, the the best non free C++ books has been written.

,C++ is a language from all for everyone.

C++ is constantly created on a committee composed of the most important and intelligent scientists in the world, but where almost everyone can participate, to create a formal standard governed by ISO.

,C++ is based on philosophical principles that determine how it evolves.

C++ is a language designed to evolve in an easy-to-use way, creating very efficient programs that are easy to read, understand, write and maintain.

One of those principles, for example, is the zero overhead principle: You do not pay for what you do not use.

C++ is a very powerful language.

Each of the C++ features deserves a specific explanation that goes well beyond this answer.

I will only mention a few of them (in any order) just to give you an idea: Everything C language has plus: classes, constructors, destructors, inheritance, multiple inheritance, virtual inheritance, polymorphism, access protection, pure virtual methods, function overloading, operator overloading, references, smart pointers, RAII, RTTI, function templates, class templates, template specialization, variadic template arguments, threads, futures, asyncs, atomics, mutexes, concepts, type deduction, auto, exceptions, modules, copy semantics, move semantics, compile time computations, lambdas, and many many more.

However, the important point is that you do not need to know the vast majority of them to create good programs.

You can just learn and use them if you want.

,C++ is the conjunction of two large parts: the core and the standard library.

The language has a relatively short part that is the core and a large part, written in C++ itself, which is the standard library.

This allows the language to grow easily, users can see the library code and can even extend it.

Finally, since the standard library is written in C++, this tests the language itself.

Language creation is library creation.

C++ has a very powerful community of users and developers.

There are billions of written computer line programs, millions of programmers, thousands of teachers, hundreds of free libraries, hundreds of web pages of information, several fully optimized and free C++ compilers and an active C++ committee that evolves the language permanently.

On this way, C++ has a massive legacy ecosystem u2014shared with Cu2014 and it has always been faithful to this great community, maintaining backward-compatibility and support.

,I know there are more reasons for the spectacular success of C++, but I think I mentioned some of the most important factors.

Some of them may require an additional explanation, however, to make this long answer short, I have only briefly explained them.

,C++ is created by humans, so it is not perfect.

But this is totally irrelevant.

The important point is that C++ continuously evolves in search of u201cperfectionu201d, commanded by very intelligent people who move for high ideals in an effort to improve the life of humanity.

,Believe it or not, like it or not, C++ is the language of the future.

My advice: learn and be competent in C++, especially if you want to be a professional programmer.

Other languages are good, but C++ is a must.


,If this answer was helpful, Please UPVOTE and consider following me-Mario Galindo Queralt.