Asked by April Johnston on Jun 28, 2024
Verified
A partnership
A) has few stockholders.
B) must have more than one owner.
C) has limited liability.
Partnership
A lawful business structure operated by two or more people who jointly manage and divide profits.
Limited Liability
A legal structure that limits the personal financial responsibility of shareholders for the debts or actions of a corporation to the amount they invested.
- Identify the differences between several business frameworks and their features.
Verified Answer
AD
Akhil DatlaJul 01, 2024
Final Answer :
B
Explanation :
A partnership is a business structure in which two or more individuals share ownership and management of the business. Therefore, it must have more than one owner. The other options are not correct because a partnership can have many partners, and the liability of each partner is unlimited.
Learning Objectives
- Identify the differences between several business frameworks and their features.