Which of the Following Statements Best Describes a Partnership

question 206

Multiple Choice

Which of the following statements best describes a partnership?

• A) Partnership involves two or more persons carrying on business with a view towards profits.
• B) Partnerships involve limited liability.
• C) Partnerships are created when two or more persons specifically agree to be in partnership.
• D) Partnerships are created only when they have been properly registered with the government.
• E) Partnerships are like any other form of contract; they can be created only when there is consensus between the parties in the form of offer and acceptance to that effect.

---

Definitions:

Cloudsourcing

Cloudsourcing combines "cloud computing" and "outsourcing," referring to the practice of obtaining services, computing resources, or infrastructure management from external providers through the internet.

Revamped Products

Products that have been significantly redesigned or updated with new features or improvements to meet current market demands.

Manufacturer

A company or person that produces finished goods from raw materials in large quantities for sale.

Risk

The potential for losing something of value or the exposure to danger, harm, or loss, often evaluated in decision-making processes.