A ________ is created when two or more persons agree to place their money,labor,or skills in a business and to share the profits and losses.

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In a general partnership, two or more individuals agree to share their resources, including money, labor, and skills, to establish a business. Each partner contributes to the operation of the business and shares in the profits and losses. This type of business entity is relatively easy and inexpensive to establish, and partners have control over the operations of the business. However, it also exposes partners to unlimited personal liability for the debts and obligations of the business.

A ________ Is Created When Two or More Persons Agree