Which of the Following Best Defines a Partnership

question 62

Multiple Choice

Which of the following best defines a partnership?

• A) A business owned and operated by one person
• B) A voluntary association of two or more persons to carry on, as co-owners, a business for profit
• C) The governing body for corporate activity
• D) An organization in which each owner has limited personal liability

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Definitions:

Structurally Unemployed

Individuals who are unemployed due to a mismatch between their skills and the requirements of the current job market, often because of technological changes or shifts in the economy.

Seasonal Unemployment

Unemployment resulting from the seasonal pattern of work in certain industries, with workers regularly laid off during the slow season and rehired during the busy season.

Unemployment Rate

The unemployment rate is the percentage of the labor force that is jobless and actively seeking employment.

Natural Rate

The natural rate of unemployment is the level of unemployment consistent with a stable rate of inflation.