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The type of business ownership in which two or more persons share all costs of opening, operating, and maintaining the business is a

A. Sole proprietorship
B. Corporation
C. Partnership
D. Limited liability company (LLC)

1 Answer

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Final answer:

The business ownership type where two or more persons share all business costs is a partnership. Other types of business structures include sole proprietorship, corporation, and LLC, each with varying levels of personal liability for owners.

Step-by-step explanation:

The type of business ownership in which two or more persons share all costs of opening, operating, and maintaining the business is a partnership. A partnership allows multiple owners to collaborate in running the business and requires them to share the profits and responsibility for the business's debts. Sole proprietorship refers to a business owned and run by one individual, who bears unlimited personal liability for the business's debts. In contrast, a corporation is a legal entity separate from its owners, providing limited liability protection, but it is complex and subject to more regulations. A Limited Liability Company (LLC) combines elements of partnerships and corporations, comprising limited liability while allowing flexible management structures.

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