A partnership in which management responsibilities and profits are divided usually equally among the partners, and all partners have unlimited personal liability for the partnership's debts is called a(n) partnership.

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The characteristics described in the question are those of a general partnership. In a general partnership, all partners are equally responsible for management decisions and the partnership's profits and losses are divided equally among the partners. Additionally, all partners have unlimited personal liability for the partnership's debts.

A Partnership in Which Management Responsibilities and Profits Are Divided