Answered

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A partnership is defined as an association of two or more people to carry on a business as co-owners for a profit.

True ☐
False ☐

Sagot :

GinnyAnsweridn

Final answer:

A partnership is an association of individuals co-owning a business for profit, where responsibilities and profits are shared among partners. The statement 'True' is correct.


Explanation:

True

A partnership is indeed defined as an association of two or more people to carry on business as co-owners for a profit. Partnerships involve sharing profits and responsibilities among the owners.


Learn more about Partnership Definition here:

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