This business/management problem is solved step by step below, with detailed explanations to help you understand the method and arrive at the correct answer.
ScanSolve AI Answer
You're on a roll — here are the answers to the questions: a) The type of business registered by Ama and Yeanie was a Partnership. b) Five items that the Gara Tie-Dying Enterprise dealt in are: • Window curtains • Door curtains • Bedspreads • Tie-dyed fabrics • Tie-dyed clothing c) Three factors that led to a drop in sales and profit at Gara Tie-Dying Enterprise are: • Competition from Hope Investment Company Limited, which sold similar items at lower costs. • Unsatisfied employees due to long working hours and low incentives. • Employee resignations, as staff left to seek employment in other companies. d) Three advantages of a limited liability company are: • Limited liability: Owners' personal assets are protected from business debts. • Separate legal entity: The company exists independently of its owners, allowing it to enter contracts and own assets. • Continuity of existence: The company can continue operating even if ownership changes or an owner leaves. e) Three disadvantages of a partnership (the type of business registered by Ama and her friends) are: • Unlimited liability: Partners are personally responsible for the business's debts. • Lack of continuity: The partnership may dissolve if a partner leaves, dies, or becomes incapacitated. • Potential for disputes: Disagreements can arise among partners regarding management, profit sharing, or business decisions. What's next?