Two brokers form a partnership, each with a 50% interest. One is the general managing partner and the other is a sales broker. What type of ownership do the brokers have?

Select one:
a. Tenancy in common.
b. Limited partnership.
c. General partnership.
d. Joint tenancy.

General partnership is the type of ownership that the brokers have in this scenario. In a general partnership, two or more individuals share ownership of a business, each with a stake in profits and responsibilities. In this case, one partner is the general managing partner, while the other is a sales broker, showcasing a typical arrangement within a general partnership.

Learn more about Types of Business Ownership here:

https://brainly.com/question/41846295

Two brokers form a partnership, each with a 50% interest. One is the general managing partner and the other is a sales broker. What type of ownership do the brokers have?Select one:a. Tenancy in common.b. Limited partnership.c. General partnership.d. Joint tenancy.

Answer :

Final answer:

Explanation:

Learn more about Types of Business Ownership here:

Other Questions

Two brokers form a partnership, each with a 50% interest. One is the general managing partner and the other is a sales broker. What type of ownership do the brokers have?

Select one:
a. Tenancy in common.
b. Limited partnership.
c. General partnership.
d. Joint tenancy.