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)

Answer 1

The business organization Jorge and Fred have MOST LIKELY formed is a "partnership".

A partnership is a formal course of action in which at least two gatherings participate to oversee and work a business. Different association courses of action are conceivable in which all accomplices may share liabilities and benefits similarly or a few accomplices may have constrained risk. Few out of every odd accomplice is essentially engaged with the administration and everyday tasks of the endeavor, for example, on account of a "silent partner." In a few locales, organizations appreciate great expense treatment in respect to enterprises.

Answer 2

The business organization Jorge and Fred have most likely formed is an Partnership. Because they share all profits and risks caused by an organisation. There is a major advantage in partnership where we can take decisions and plans together and strive towards the excellence of the organization. Even-though there is a debt problem we can share and solve the debts.Mutual Understanding is the main point in Partnership.