Question

Jorge and Fred have a product they would like to sell. They decide to share the risks and profits by forming an unincorporated business. The business organization Jorge and Fred have MOST LIKELY formed is a(n) A) partnership. B) corporation. C) entrepreneurship. D) sole proprietorship

Answer 1

The correct answer is A) partnership.

Jorge and Fred have a product they would like to sell. They decide to share the risks and profits by forming an unincorporated business. The business organization Jorge and Fred have MOST LIKELY formed is a partnership.

In business terms, a partnership is when two or more individuals or companies, join forces and resources to operate a business. In this case, Jorge and Fred are partners that will share risks, losses, and profits. Partnerships are formed because one individual alone, can't have enough resources, time, or expertise to open and run the business. That is why the individual looks for the right person or persons to be associated with.

Answer 2

I think the correct answer would be partnership. This type of business is a single type wherein there are two or more who owns it. Each owner has his share to all of the aspects in business. They will have equal rights. Hope this answers the question.