GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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A business partnership has ____ who share the risks and the profits.
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One owner
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No more than three owners
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Two or more owners
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Five or more owners
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Explanation:
Detailed explanation-1: -Partnerships. In a Partnership, two or more people share ownership of a single business. Like proprietorships, the law does not distinguish between the business and its owners.
Detailed explanation-2: -Sole Proprietorship These firms are owned by one person, usually the individual who has day-to-day responsibility for running the business. Sole proprietorships own all the assets of the business and the profits generated by it. They also assume complete responsibility for any of its liabilities or debts.
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