LESSON 2 PARTNERSHIP Created By: Putri Astuti NIM: 2083310056

LESSON 2
PARTNERSHIP

EXERCISE 1 : STRUCTURAL PRACTICE

1. Jean is a woman. She used to be in accounting
Jean is woman who used to be in accounting
2. Barbara is a woman. She is Jean’s partner
Barbara is the woman who Jean’s partner
3. Barbara and Jane are friends. The run a shop
Barbara and Jane are friends who run a shop
4. Martin is a friend. He had lunch with Barbara
Martin is a friend who had lunch with Barbara
5. Barbara is a partner. She is good at selling
Barbara is a partner who is good at selling
6. Jean is a partner. She is good at ordering stock
Jean is a partner who is good at ordering stock
7. Barbara and Jane are partners. They have the right combination
Barbara and Jane are partners who have the right combination
8. Partners are people. They share unlimited joint liability
Partners are people who share unlimited joint liability

EXERCISE 2 : SUBSTUTION DRILL

1. One partner can invest less money than another
2. One partner can put in less capital than another
3. One partner can invest less capital than the other
4. One partner can invest more capital than another
5. One person can invest less cash than another
6. One partner may invest less cash than another
7. One partner can receive less capital than another
8. One partner can invest less capital time another

COMPREHENSION QUESTIONS

1. What is an important difference between a general partnership and a limite partnership?
A general partnership have unlimited liability and a limited partnership have limited liability.
2. What is the difference between a silent partner and a secret partner?
- Silent partner is a person who is known to the public as a member of the firm but without authority in management.
- Secret partner is a person who takes part in management but who is not know to the public.
3. What are some profesonal field in which partnership are found?
Such as medicine, law, accounting, insurance and stockbrokerage.

4. What are some businesses in which limited partnership is a common form?
Limited partnership are a common form of ownership in real estate, oil prospecting, and the mining and quarrying industries, to name a few.
5. Discuss the advantages of partnership
The advantages of partnership are they are easy to form, and often receive favored treatment by the goverment as well as tax benefist
6. What are the disadvantages of a partnership?
There are some disadvantages of a partnership.
7. Which would you prefer for your own business, a partnership or sole proprietorship? Why? If neither form would be suitable, explain why not
I would prefer a partnership for my own business, because it easy to form

VOCABULARY PRACTICE

Capital Benefist Associate
Silent patner Unlimited liabiliti management

1. A secret parnert part in management
2. General parners have unlimited liability
3. A silent patner is known to the public as a member af the firm, but has no authority
4. Partnership often receive tax benefist from the government.
5. One adventage of a partership is that it offers a multiple source of capital
6. A partner’s share of the business can cor into the hands of a less desirable associate upon the partner.s death