A _______ Consists of Two or More People Who Work

question 67

Multiple Choice

A _______ consists of two or more people who work interdependently over some time period to accomplish common goals related to some task-oriented purpose.

• A)team
• B)composition
• C)pooled structure
• D)mission
• E)segment

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Definitions:

Corporation

A legal entity that is separate and distinct from its owners, which can own property, incur debt, sue and be sued.

Partnership

A business structure in which two or more individuals manage and operate a business in accordance with the terms and objectives set out in a partnership agreement.

Personal Liability

The legal responsibility of an individual to settle debts or obligations from their own assets, rather than those protected by a corporation or limited liability entity.

Business Debts

Obligations that a business incurs as a result of operating activities, including loans, accounts payable, and any other form of borrowed money.