Which Statement Is True About Partnerships in the United States

question 61

Multiple Choice

Which statement is true about partnerships in the United States?

• A)about 10% of U.S.businesses are partnerships
• B)most partnerships are very large
• C)setting up a partnership is easier than setting up a sole proprietorship
• D)it is possible to form a partnership without the help of a lawyer or an accountan

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Definitions:

Respondeat Superior

Respondeat Superior is a legal doctrine that holds an employer or principal responsible for the actions of their employees or agents, when those actions occur within the scope of employment or agency.

Cause Harm

Refers to actions or circumstances that cause physical, emotional, or financial damage or injury to someone.

Country

A nation with its own government, occupying a particular territory.

Repair

The action of fixing or restoring something that is damaged or deteriorated to a functional or useful state.