A partnership is a business that is __________.
Question 3 options:
easy to form
ends with the death of a partner
owned by more than one person
All of these answers are correct.
Answer- D
I agree.
Just kidding I dont
To determine the correct answer to this question, we need to understand what a partnership is. A partnership is a type of business structure where two or more individuals, known as partners, work together to carry on a business for profit. In a partnership, the partners share the responsibilities, profits, and losses of the business.
Now let's evaluate each option:
Option A: "Easy to form" - While it may be true that partnerships are generally easier and less expensive to form compared to other business entities like corporations, this statement alone does not fully define what a partnership is.
Option B: "Ends with the death of a partner" - This statement is not entirely accurate. While the death of a partner can lead to the dissolution of a partnership, it does not necessarily mean that a partnership always ends with the death of a partner. Partnerships can continue with the remaining partners or be restructured with new partners.
Option C: "Owned by more than one person" - This statement accurately describes a fundamental characteristic of a partnership. Partnerships are owned and operated by two or more individuals who share ownership and contribute to the business.
Option D: "All of these answers are correct" - This is the correct answer. When considering the definition and characteristics of a partnership, it becomes evident that partnerships are indeed easy to form, can end with the death of a partner, and are owned by more than one person. Therefore, all of the options presented in the question are correct, making Option D the most accurate response.