A partnership:
A) is a form of business ownership with a single owner who usually actively manages the company.
B)is a form of business ownership in which the business is considered a legal entity that is separate and distinct from its owners.
C)is a form of business ownership that offers both limited liability to its owners and flexible tax treatment.
D)is a voluntary agreement under which two or more people act as co-owners of a business for profit.

Question

Quizplus · Accepted Answer

A partnership is a business format in which two or more people join together to own a business and share profits and losses. In this format, the owners are known as partners, and they share profits and ownership of the business. This type of business is easy to set up and less costly.

A Partnership