Asked by Ja’Juan Clark on Jul 04, 2024
Verified
________ is an association of two or more persons to carry on as co-owners of a business for profit.
A) A joint operation
B) A combined partnership
C) A partnership
D) A joint business arrangement
E) A primary partnership
Co-owners
Individuals or entities who jointly own an asset or property, sharing the rights and responsibilities associated with ownership.
Business for Profit
An enterprise or entity engaged in commercial, industrial, or professional activities with the aim of generating financial returns for its owners or shareholders.
- Acquire knowledge on the essential concepts involved in the establishment of a partnership.
Verified Answer
ZK
Zybrea KnightJul 07, 2024
Final Answer :
C
Explanation :
A partnership is defined as an association of two or more persons who come together to carry on as co-owners of a business for profit. This is the standard legal definition used in many jurisdictions to describe such a business arrangement.
Learning Objectives
- Acquire knowledge on the essential concepts involved in the establishment of a partnership.
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