The Partnership Form of Business Organization

question 221

Multiple Choice

The partnership form of business organization

• A) is a separate legal entity.
• B) is a common form of organization for service-type businesses.
• C) enjoys an unlimited life.
• D) has limited liability.

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Definitions:

Legitimate Power

Authority that is recognized and accepted by others within an organizational structure.

Expert Power

The influence wielded by an individual or group due to their expertise, skills, or experience in a particular domain.

Referent Power

A form of influence derived from being admired, respected, or identified with, often because of personal attributes or associations.

Informal Structure

The network of personal and social relationships that arise naturally within an organization, contrasting with the formal organizational structure.