Betty Melton and Sam Kerwin are considering a business venture. They ask you to explain the advantages

Question:

Betty Melton and Sam Kerwin are considering a business venture. They ask you to explain the advantages and disadvantages of the partnership form of organization.

Partnership
A legal form of business operation between two or more individuals who share management and profits. A Written agreement between two or more individuals who join as partners to form and carry on a for-profit business. Among other things, it states...