Question

1. a business organization owned by two or more people who share in the companys profits and losses, but who must incur unlimited liability is a

○ sole proprietorship
○ partnership
○ corporation
○ none of the above

Explanation:

A sole proprietorship is owned by one person. A corporation has limited liability for its owners. A partnership is owned by two or more people who share profits/losses and have unlimited liability.

Answer:

B. partnership