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Christian Aguero
on Nov 15, 2024

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The partnership form of business organization

A) is a separate legal entity.
B) is a common form of organization for service-type businesses.
C) enjoys an unlimited life.
D) has limited liability.

Partnership

A legal form of business operation between two or more individuals who share management and profits.

Service-Type Businesses

Companies that offer non-tangible products or services to customers rather than physical goods.

Legal Entity

An organization or individual that has legal rights and obligations, including the ability to enter into contracts, sue, and be sued.

  • Learn about the contrasts among various types of business establishments and their defining characteristics.
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Stefanie SondgerothNov 20, 2024
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