Conchita, Kibwana, and Ravi started selling computer software on college campuses under the name Student Software Company. Each person contributed $1500 toward start-up costs and agreed on dividing costs and profits equally. The legal structure for the company can best be described as a

Question

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The legal structure for Student Software Company is a partnership, as all three individuals contributed capital equally, agreed to divide costs and profits equally, and are not operating under a formal business entity such as a corporation or trade alliance.

Conchita, Kibwana, and Ravi Started Selling Computer Software on College