GK
BUSINESS ECONOMICS
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Characteristics include owned by two or more people and may be general or limited
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Sole Propriotorship
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Partnership
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Corporation
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None of the above
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Explanation:
Detailed explanation-1: -The following are the five characteristics of a partnership: Sharing of profits and losses. Mutual agency. Unlimited liability.
Detailed explanation-2: -They are a separate legal entity from their members. They have the benefit of limited liability for their members. They are taxed as a partnership. They have the organisational flexibility of a partnership. More items •20-Feb-2011
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