What type of arrangement did Wally propose with his suggestion that they share control of the business and split profits equally,not bothering with a written agreement?
A) A joint sole proprietorship
B) A partnership
C) A corporation
D) An S corporation
E) A limited partnership

Question

Quizplus · Accepted Answer

A partnership is a voluntary association between two or more persons who co-own a business for profit. The partners, each considered an agent of the partnership, are generally not required to create an official or even a written agreement to establish it.

What Type of Arrangement Did Wally Propose with His Suggestion