The Three Key Elements of Any Partnership Are

question 100

Multiple Choice

The three key elements of any partnership are:

• A)common ownership in the business,sharing the business' profits or losses,and the right to participate in managing the business.
• B)equal ownership in the business,sharing its profits and losses,and the right to participate in managing the business.
• C)equal ownership in the business,sharing its profits and losses,and the right to limited liability for all partners.
• D)common ownership in the business,sharing its profits and losses,and the right to limited liability for all partners.

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Definitions:

Oceanic Province

A specific, large region of the ocean that is characterized by its unique physical, chemical, and biological properties.

Continental Shelf

The extended perimeter of each continent, submerged under shallow water, leading to a sharp drop-off known as the continental slope.

Southern Hemisphere

The half of Earth that is south of the equator, known for having reverse seasons compared to the Northern Hemisphere due to its orientation to the sun.

Alpine Tundra

An ecosystem located in the higher elevations of mountains, above the tree line and below the snow line. Compare with tundra.