MANAGEMENT

BUISENESS MANAGEMENT

BUSINESS STRUCTURE

Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
This type of business is owned by two or more people.
A
Sole Proprietorship
B
Corporation
C
Partnership
D
Limited liability company
Explanation: 

Detailed explanation-1: -A general partnership is a business owned jointly by two or more people. Advantages include: more resources and talents come with an increase in partners, and the business can continue even after the death of a partner. Disadvantages include: partnership disputes, unlimited liability, and shared profits.

Detailed explanation-2: -A business owned by two or more persons associated as partners is a partnership. A business organized as a separate legal entity owned by stockholders is a corporation.

Detailed explanation-3: -Partnerships come in two varieties: general partnerships and limited partnerships. In a general partnership, the partners manage the company and assume responsibility for the partnership’s debts and other obligations. A limited partnership has both general and limited partners.

There is 1 question to complete.