Asked by Jenny Koshy on Apr 29, 2024
Verified
A_______ is a person who has undertaken to operate a business jointly with one or more persons and is a co-owner of the firm.
A) sole proprietor
B) shareholder
C) partner
D) managing partner
Partner
A person who operates a business jointly with one or more other persons. Each partner is a co-owner of the business firm.
Shareholder
One who has an ownership interest in a corporation through the purchase of corporate shares or stock.
Managing Partner
A member of a partnership who has been designated the responsibility for managing the day-to-day operations of the business.
- Recognize the differences between various models of law firm organization, including sole proprietorships, partnerships, and professional corporations.
Verified Answer
KG
Kemar GouldbourneMay 06, 2024
Final Answer :
C
Explanation :
A partner is a member of a partnership, which is a type of business entity where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Deed.
Learning Objectives
- Recognize the differences between various models of law firm organization, including sole proprietorships, partnerships, and professional corporations.