A Partnership Is a Business That

question 44

Multiple Choice

A partnership is a business that

• A) is owned by more than one person and is incorporated.
• B) is owned by two persons and is not incorporated.
• C) is owned by two or more persons and is not incorporated.
• D) requires all profits and losses to be borne equally.

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Definitions:

Crafters Fair

An event where artisans and craftspeople showcase and sell their handmade goods, often featuring a variety of unique items.

Marginal Costs

The additional cost incurred in producing one more unit of a product or service.

Sunk Costs

Costs that have already been incurred and cannot be recovered, which should not influence future business decisions.

Shut Down

The process of ceasing operations or activity, either temporarily or permanently.