Final answer:
A business partnership does indeed differ from a personal friendship, as it involves formal business responsibilities and liability sharing among the partners, which is not a characteristic of friendships. This makes the statement true.
Step-by-step explanation:
A business partnership differs significantly from a personal friendship, which is true. In a partnership, partners collaborate to manage a business, contribute to its capital, and share its profits as well as its liabilities. This is evident in forms such as general partnerships and limited partnerships. A major distinction is the shared responsibility for each other's actions within the business, which can result in personal liability for business debts. This contrasts with personal friendships, where such legal and financial responsibilities do not exist.A business partnership differs significantly from a personal friendship.
In a business partnership, two or more people come together to jointly own and run a business, with the goal of making a profit. This involves sharing both the responsibilities and the profits of the business. Personal friendships, on the other hand, are based on mutual trust, shared interests, and emotional connection, and do not typically involve financial or legal obligations.in a free enterprise economy can be found among professionals where the start-up costs might be too high for one person. They are formal business arrangements with specific documentation, such as partnership agreements, that outline the roles and responsibilities of each partner.