234k views
4 votes
All of the following phrases describe a partnership except

a. shared responsibility for decisions.
b. low start-up costs.
c. the involvement of up to 20 partners.
d. high protection for your personal assets.

User Curpa
by
8.9k points

1 Answer

3 votes

a. shared responsibility for decisions.

A partnership is a legal form of business operation between two or more individuals who share management and profits. There are two types of partnership: general partnership and limited partnership.

In a general partnership, the partners manage the company and assume responsibility for the partnership's debts and other obligations.
In a limited partnership, it has both general and limited partners.
User Seddy
by
8.7k points
Welcome to QAmmunity.org, where you can ask questions and receive answers from other members of our community.