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Question

5. Abcede and Xyck met at the law school and decide to start a small law practice after

graduation. They agree to split revenues and expenses evenly. Which among the common form

of business organization for a business such this?

A. joint venture

B. B. partnership

C. C.corporation

D. D. proprietorship

Answer

B. Partnership

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A partnership is the most common form of business organization for a business such as this, where two or more people agree to share revenues and expenses. A...