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Assignment Unit - 11 Setting Up In Business The business I have chosen to set up is a computer systems shop, where I would sell computers, software, computer accessories and so many other services. The ownership of my business would be a partnership. Setting up an own business as a sole trader is not an easy factor. When you open your own business you have many responsibilities. You have to manage everything in the business, like getting stocks, paying wages, doing all the paper works and much more. A partnership exits when two or more persons combine their funds and abilities to carry on a business for profit. There are two kinds of partnership: General Partnership: All the partners share in the management of the business and have unlimited liability for the debts and other obligations. Limited Partnership: Some of the partners have limited liability to their investment, but at least one partner retains unlimited liability. Liabilities As...

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