If the division of profits and losses is not spelled out in a formal agreement between the owners, they will be split evenly amongst the owners.In which form of organization is this true?
A)Corporation
B)Partnership
C)Sole proprietorship
D)All of these

Question

Quizplus · Accepted Answer

In a partnership, the profits and losses are typically split equally among the partners unless otherwise specified in a formal agreement. In a corporation and sole proprietorship, the profits and losses are handled differently as they are taxed differently and have different legal structures.

If the Division of Profits and Losses Is Not Spelled