BUSINESS ADMINISTRATION
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Sole proprietorship
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Partnership
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Corporation
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Franchise
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Detailed explanation-1: -Partnerships–General and Limited A general partnership is an agreement, expressed or implied, between two or more persons who join together to carry on a business venture for profit.
Detailed explanation-2: -Partnership. Partnerships are the simplest structure for two or more people to own a business together. There are two common kinds of partnerships: limited partnerships (LP) and limited liability partnerships (LLP).
Detailed explanation-3: -An overview of the four basic legal forms of organization: Sole Proprietorship; Partnerships; Corporations and Limited Liability Company follows.
Detailed explanation-4: -Partnership. These come in two types: general and limited. In general partnerships, both owners invest their money, property, labor, etc. to the business and are both 100% liable for business debts.