A partnership is based on a(n)_______ between two or more competent persons who agree to place some or all of their money or other assets, labor, and skill in a business, with the understanding that profits and losses will be proportionately shared.

Question

Quizplus · Accepted Answer

A partnership is indeed based on a voluntary contract where individuals agree to contribute resources or skills to a business with the understanding that profits and losses will be shared.

A Partnership Is Based on A(n)_______ Between Two or More