A Partnership Is a

question 72

Multiple Choice

A partnership is a

• A) business owned by shareholders whose liability for the firm's losses includes their personal wealth.
• B) one-person operation that has many employees.
• C) business owned by two or more partners who share the firm's profits but are not responsible for any losses.
• D) business owned by two or more persons who share the firm's profits and losses.
• E) business owned by shareholders whose liability for the firm's losses is limited to the value of the stock they own.

---

Definitions:

Ratchet-Style

A mechanism or approach that permits only incremental increases or improvements, often without the possibility of reversal.

Pruning Clippers

Gardening tools used for cutting and shaping plants by removing unnecessary or unwanted parts.

Markup Percent

The percentage increase in the selling price of goods beyond their cost, used by retailers to achieve a profit margin.

Scaffolding Equipment

the temporary structures and tools used in construction, maintenance, and repair activities to support workers and materials.