partnership possesses which of the following characteristics?
A) There are less risks to a corporation compared to the risks of a sole proprietorship.
B) If a partnership cannot pay its debts, lenders cannot take the owner's personal assets to satisfy the obligations.
C) A partnership joins two or more individuals as co-owners.
D) None of the above is a characteristic of a partnership.

Question

Quizplus · Accepted Answer

A partnership is defined by the joining of two or more individuals as co-owners in a business. This is a fundamental characteristic of partnerships, distinguishing them from sole proprietorships (with only one owner) and corporations (which are legal entities separate from their owners).

Partnership Possesses Which of the Following Characteristics