Which group best defines a partnership?

Question

Quizplus · Accepted Answer

A partnership is a type of business owned by two or more people who agree to share in the profits and losses of the company. Unlike a sole proprietorship, where one person owns and operates the business, a partnership involves a voluntary association of two or more persons to have a business for profit, making B the best choice. Option A describes a sole proprietorship, option C describes a board of directors, and option D describes a limited liability company, which is a different type of legal structure.

Which Group Best Defines a Partnership