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7 Cards in this Set
- Front
- Back
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Partnership |
A business organization owned by two or more persons who agree on a specific division of responsibilities and profits |
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General partnership |
Partnership in which partners share equally in both responsibility and liability |
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Limited partnership |
Partnership in which only one partner is required to be a general partner |
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Limited liability partnership |
Partnership in which all partners are limited partners |
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Articles of partnership |
A partnership agreement |
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Uniform partnership act |
Act ordering common ownership interests, profit and loss sharing, and shared management responsibilities in a partnership |
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Assests |
Money and other valuables belonging to an individual or business |
