3
QuizMultiple Choice

Legal Forms of Business Ownership

Question 3 • Entrepreneurship I - CMSD

If two or more people own a business equally, it is called a _____ .

Answer
A
limited liability company
B
partnership
C
sole proprietorship
D
corporation

Explanation

A partnership is a business owned by two or more people who share ownership. A sole proprietorship has one owner, while a corporation and a limited liability company are other legal business structures. Therefore, the correct choice is partnership.

AI-written and checked against the verified answer.

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