Which ownership structure involves shared ownership and management responsibilities among two or more individuals?

Which ownership structure involves shared ownership and management responsibilities among two or more individuals?

• A. Franchise
• B. Sole Proprietorship
• C. Partnership
• D. Corporation

Answer: (C)

Two or more individuals owning and managing together is called a partnership. In a partnership, each partner contributes money, skills, or other resources and shares in the profits, losses, and day-to-day management according to an agreement. This shared ownership and shared responsibility is what distinguishes a partnership from other structures. Franchises involve operating under another company's brand and system rather than sharing ownership and management among the partners. A sole proprietorship is owned and run by a single person, not multiple owners. A corporation is a separate legal entity owned by shareholders and managed by a board, not typically described by shared management among a few individuals.

Two or more individuals owning and managing together is called a partnership. In a partnership, each partner contributes money, skills, or other resources and shares in the profits, losses, and day-to-day management according to an agreement. This shared ownership and shared responsibility is what distinguishes a partnership from other structures.

Franchises involve operating under another company's brand and system rather than sharing ownership and management among the partners. A sole proprietorship is owned and run by a single person, not multiple owners. A corporation is a separate legal entity owned by shareholders and managed by a board, not typically described by shared management among a few individuals.