A Partnership Business Is A

question 21

Multiple Choice

A partnership business is a:

• A)firm listed in a stock exchange, in which no owner owns a majority of equity to control the firm.
• B)business with two or more owners that is not organized as a corporation.
• C)corporation in which the owners have limited liability for the corporation's liabilities.
• D)private firm in which all owners have equal ownership and limited liabilities in the event of a bankruptcy.

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Definitions:

Stable

Characterizing something that is unchanging, consistent, or not easily disturbed or upset over time.

Actor-observer Effect

The tendency to attribute one's own actions to external causes while attributing other people's behaviors to their internal characteristics.

External

Outside of or existing beyond the self or the entity it refers to, often used in contrast with internal.

Internal

Relating to or situated on the inside; intrinsic or inner attributes.