A partnership is defined as a business owned by how many people?

A partnership is defined as a business owned by how many people?

• A. Two to twenty people
• B. One person
• C. Several hundred people
• D. Two to four people

Answer: (A)

A partnership is defined by ownership by more than one person, with two or more people sharing control and profits. In this Edexcel context, the range used for a partnership is two to twenty owners, which is why this option is the best match. A single person would be a sole trader, while several hundred owners or a very small range like two to four don’t fit the way this syllabus distinguishes partnerships from other business forms. So the two to twenty owners answer correctly identifies the typical scope of a partnership.

A partnership is defined by ownership by more than one person, with two or more people sharing control and profits. In this Edexcel context, the range used for a partnership is two to twenty owners, which is why this option is the best match. A single person would be a sole trader, while several hundred owners or a very small range like two to four don’t fit the way this syllabus distinguishes partnerships from other business forms. So the two to twenty owners answer correctly identifies the typical scope of a partnership.