When a business is managed and owned by a group of individuals sharing in making the decisions and taking the risks, the business entity is considered to be:__.

Respuesta :

When a business is managed and owned by a group of individuals sharing in making the decisions and taking the risks, the business entity is considered to be a Partnership.

What is Partnership?

A partnership is an agreement in which two or more people, known as business partners, agree to work together to further their shared interests. Individuals, businesses, interest-based organisations, schools, governments, or combinations can form partnerships.

A partnership is a single business owned by two or more people. Each partner contributes to every facet of the firm, whether it's money, property, work, or expertise. In exchange, each partner shares in the company's gains and losses.

The goal of a partnership agreement (or partnership contract) is to create a legally enforceable contract between two or more individuals or other legal entities in order to establish a business entity. This partnership agreement specifies each partner's or entity's rights and duties.

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