A Partnership

question 198

Multiple Choice

A partnership:

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

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Definitions:

Real-World Experience

Practical or actual experience as opposed to theoretical knowledge, gained through direct sensory engagement with the environment.

Passion

A powerful feeling or emotion, often driving enthusiasm or desire for something.

Perseverance

Persistent determination in doing something despite difficulty or delay in achieving success.

Long-Term Goals

Long-term goals are objectives or aspirations that an individual or organization aims to achieve over an extended period, often several years or more.