What type of business has two or more owners who share in the operation of the firm and are financially responsible for its debts?

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A partnership is a business owned by two or more people who share in the operation of the firm and are financially responsible for its debts. Unlike a corporation, where shareholders have limited liability, partners are personally liable for the debts and actions of the partnership. A cooperative is also owned by multiple individuals, but they typically share resources and decision-making rather than splitting profits and responsibilities. A conglomerate is a corporation that owns multiple businesses in different industries. A nonprofit is a type of organization that operates for a charitable or social purpose rather than to generate profits for owners.

What Type of Business Has Two or More Owners Who