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In which form of business ownership do two or more individuals share ownership a
In which form of business ownership do two or more individuals share ownership and profits?
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Q1
In which form of business ownership do two or more individuals share ownership and profits?
Sole Proprietorship
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A Partnership involves two or more individuals sharing ownership and profits of the business.
Questions & Step-by-step Solutions
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Q
Q: In which form of business ownership do two or more individuals share ownership and profits?
Solution:
A Partnership involves two or more individuals sharing ownership and profits of the business.
Steps: 5
Show Steps
Step 1: Understand that business ownership can take different forms.
Step 2: Identify the types of business ownership, such as sole proprietorship, partnership, corporation, etc.
Step 3: Focus on the term 'two or more individuals' in the question.
Step 4: Recognize that a partnership is a type of business where two or more people share ownership.
Step 5: Conclude that in a partnership, these individuals also share the profits generated by the business.
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