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In which form of business ownership do two or more individuals share ownership a

Practice Questions

Q1
In which form of business ownership do two or more individuals share ownership and profits?
  1. Sole Proprietorship
  2. Corporation
  3. Partnership
  4. Franchise

Questions & Step-by-Step Solutions

In which form of business ownership do two or more individuals share ownership and profits?
  • 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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