For your fourth assignment we will be covering the Partnership chapter. Partnerships are very similar to sole proprietorships in many ways but it adds the old mantra of "two heads are better than one" to the mix. After reading the chapter please complete the following questions.

1. What are some examples of industries that the business entities still commonly setup in the partnership business form?

2. Why would a group of people organize their business as a partnership?

3. What is the difference between the entity theory and aggregate theory of partnerships?