A Partnership

question 217

Multiple Choice

A partnership:

• A) Is also called a sole proprietorship.
• B) Has to have a written agreement in order to be legal.
• C) Has unlimited liability for its partners.
• D) Is a legal organization separate from its owners.
• E) Has owners called shareholders.

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Definitions:

Professional Selling

The process of engaging clients or customers in a business context to promote and exchange goods or services for value.

Personal Communication

Direct exchange of information or messages between two or more individuals through verbal or non-verbal means.

Mutually Beneficial

A situation or agreement that provides advantages to all parties involved.

Promotional Allowances

Financial incentives provided to retailers or distributors to support the marketing and sales of a product.