Select all the correct answers. which two sentences describe characteristics of a partnership? the owners are free from personal liability. the owners pool their resources to raise capital. the owners in a partnership are called members. the business benefits because owners can share responsibilities.

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19-09-2022
Business

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Select all the correct answers. which two sentences describe characteristics of a partnership? the owners are free from personal liability. the owners pool their resources to raise capital. the owners in a partnership are called members. the business benefits because owners can share responsibilities.

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qwteddy qwteddy · Answer 1 · 2022-09-22T05:55:25-04:00

The two sentences that describe the characteristics of a partnership are:

the owners pool their resources to raise capital.

the business benefits because owners can share responsibilities.

A partnership is a group of two or more persons who work together to conduct business or engage in commerce. Each individual provides something—cash, goods, labor, or skills and shares in the company's gains and losses.

An official written document outlining the type of partnership and the specifics of the arrangement, signed by all parties, is typically used to confirm a business partnership. A business partnership typically starts with a verbal agreement between the business partners to form a new business or share an existing business

The five characteristics of partnership are:

Profits and losses are split.
reciprocal agency
perpetual responsibility
legal activity.
contractual arrangement

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