When Two or More People Share the Assets, Liabilities, and Profits

question 22

Multiple Choice

When two or more people share the assets, liabilities, and profits of the business, the legal structure is a ____.

• A)sole proprietorship
• B)corporation
• C)partnership
• D)limited partnership
• E)None of these choices

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Definitions:

United States

A country in North America consisting of 50 states, a federal district, five major self-governing territories, and various possessions.

Canada

A country in North America known for its vast landscapes, multicultural population, and as a member of the Commonwealth with a parliamentary democracy and a constitutional monarchy.

U.S. Surgeon General

The leading spokesperson on matters of public health in the federal government of the United States, responsible for issuing warnings and advisories to the public.

Cigarette Smoking

The act of inhaling and exhaling the smoke of tobacco or a drug, which can lead to numerous health issues, including cancer, heart disease, and respiratory problems.