Which of the following describes a business arrangement involving two or more individuals?

A partnership is a business arrangement where two or more individuals come together to operate a business. In this type of structure, partners share the responsibilities, profits, and liabilities of the enterprise. Each partner typically contributes resources such as capital, expertise, or labor and is actively involved in the management of the business. This collaborative approach allows for the pooling of resources and shared decision-making, which can lead to opportunities for growth and increased innovation.

In contrast, a sole proprietorship operates under the control of a single individual, who is solely responsible for all aspects of the business. A corporation is a separate legal entity owned by shareholders and offers limited liability protection, meaning shareholders are not personally liable for the corporation's debts. A franchise agreement involves a franchisee obtaining rights to operate a business under the established brand or systems of a franchisor but does not necessitate a partnership between individuals. Each of these options represents different structures and legal relationships within the realm of business, but a partnership uniquely highlights a collaborative arrangement among multiple individuals.