In Which of the Following Types of Ownership Do All

question 48

Multiple Choice

In which of the following types of ownership do all partners have the right to actively participate in the management of the firm and to share in any profits or losses incurred by the business?

• A) general partnership
• B) limited liability partnership
• C) limited partnership
• D) sole proprietorship

---

Definitions:

Standard Score

A score that has been transformed to fit a normal distribution, typically with a mean of 0 and a standard deviation of 1, allowing for comparison across different tests or assessments.

Percentile

A measure used in statistics indicating the value below which a given percentage of observations in a group of observations falls.

Z-score

A statistical measure that describes a value's relationship to the mean of a group of values, expressed in terms of standard deviations from the mean.

Variability

A quantitative measure that describes the degree to which scores in a distribution are spread out or clustered together.