Zach and Mac own an auto repair business which they operate as co-owners.Both take an active role in the management of the business,and each accepts unlimited liability.Zach and Mac operate as a __________.
A)joint venture
B)general partnership
C)limited partnership
D)cooperative

Question

Quizplus · Accepted Answer

Zach and Mac operate as a general partnership because they are co-owners who take an active role in managing the business and share unlimited liability. A joint venture usually involves a short-term partnership for a specific project, a limited partnership includes at least one general partner with unlimited liability and one or more limited partners with limited liability, and a cooperative is a business owned and operated by its members for their mutual benefit.

Zach and Mac Own an Auto Repair Business Which They