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.

---

Definitions:

Incidental Damages

Minor costs or expenses that arise indirectly from a breach of contract.

Substitute Goods

are products or services that can be used in place of each other due to their similar characteristics, affecting consumer choice.

Reasonable Expenses

Costs that are necessary and appropriate for completing a task or project, considering the circumstances.

Substitute Widgets

Alternate or replacement products used in place of original items in various applications.