INTRODUCTION TO ENTREPRENEURSHIP
TYPES OF ENTREPRENEURSHIP
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Partnership
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Proprietorship
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Corporation
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Limited Liability Cooperative
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Detailed explanation-1: -A partnership is a formal arrangement by two or more parties to manage and operate a business and share its profits. There are several types of partnership arrangements. In particular, in a partnership business, all partners share liabilities and profits equally, while in others, partners may have limited liability.
Detailed explanation-2: -Partnership in a business is when two or more individuals form a business together, agreeing to share the profits, losses, and management of the company.
Detailed explanation-3: -A cooperative is a legal entity owned and democratically controlled by its members. Members often have a close association with the enterprise as producers or consumers of its products or services, or as its employees.