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QUESTION 5 a. Describe how a company can have perpetual life. (5 marks) b. Compare the advantages of a partnership structure over the sole trader

QUESTION 5

a. Describe how a company can have perpetual life. (5 marks)

b. Compare the advantages of a partnership structure over the sole trader structure. (5 marks)

c. Explain why it is important to have a partnership agreement specifying the arrangement for allocating (sharing) profits between the partners. (5 marks)

d. Explain the disadvantages of the company structure compared with other entity structures. (5 marks)

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