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Characteristics of partnerships and corporations

Assignment:

Question 1. Limited Liability Companies share some of characteristics of partnerships and some of the characteristics of corporations. Write a 4 to 5 paragraph essay describing the advantages and disadvantages of partnerships and corporations. Identify the essential LLC characteristics regarding liability, tax, profit and loss sharing and explain how the LLC statute is a better choice for most businesses.

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Business Law and Ethics: Characteristics of partnerships and corporations

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