Question

multiple choice question
partners equally share all profits and losses in a _.
o limited partnership
o corporation
o general partnership
o sole proprietorship

Explanation:

• In a limited partnership, there are general and limited partners. Limited partners have limited liability and usually don't share profits and losses equally in the same way as in a general partnership.
• In a corporation, profits are distributed as dividends based on shareholdings, not equal sharing of all profits and losses among partners.
• In a sole proprietorship, there is only one owner, so there are no partners to share profits and losses with.
• In a general partnership, unless stated otherwise in the partnership agreement, partners equally share all profits and losses.

Answer:

general partnership