Partnership - Jigsaw Proj. Review Game

Is a partnership an entity?

• Yes

• No

Which of the following is a partnership?

• 
• 
• 

Which is an advantage of a partnership?

Select all that apply...

• One partner doesn't have to come up with capital

• Unlimited Liability

• Disagreements can potenially break up a partnership

Which is a disadvantage of partnership?

Select all that apply...

• Losses are split between the partners

• Every partner can be held liable for one partner's decisions

• More access to capital

• More than one perspective

How many people make up a partnership?

• 1

• 2 or more

One partner being sued would be a concern for the whole business.

• True

• False

How many times does a partnership get taxed?

• 1

• 2

• 3

• 4

Only one partner handles the losses of the business.

• True

• False