Which of the Following Is the Correct Definition for a Partnership

question 43

Multiple Choice

Which of the following is the correct definition for a partnership?

• A) An association of two or more persons with one or more general partners and one or more limited partners
• B) A legal entity ordinarily consisting of an association of numerous individuals
• C) An association of two or more persons to carry on as co-tenants in business
• D) An association of two or more persons to carry on as co-owners a business for profit

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Definitions:

First Elected Assembly

Refers to the "House of Burgesses," the first assembly of elected representatives of English colonists in North America, established in Virginia in 1619.

Colonial America

The period of history when the European powers (primarily Britain, Spain, and France) established colonies on the American continent, from the late 15th century to the early 18th century.

Colony

A territory under the immediate political control of a state, distinct from the home territory of the sovereign.