What Is a Partnership

question 29

Multiple Choice

What is a partnership?

• A) a business owned and operated by one person
• B) two or more persons that carry on as co-owners of 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:

Mental Laziness

A state where an individual avoids mentally challenging tasks, preferring comfort over cognitive effort.

Theory Perseverance Effect

The phenomenon where beliefs persist even after the evidence supporting them has been discredited or debunked.

Thinking About Thinking

The process of reflecting on one's own thought patterns, beliefs, and cognitive processes; also known as metacognition.

Correspondence Bias

The tendency to draw inferences about a person's unique and enduring dispositions from behaviors that can be entirely explained by the situations in which they occur.