Which statement best describe charecteristics of a partnership

A partnership is an unincorporated association of two or more individuals to carry on a business for profit. Many small businesses, including retail, service, and professional practitioners, are organized as partnerships.  

A partnership agreement may be oral or written. However, to avoid misunderstandings, the partnership agreement should be in writing. The agreement should identify the partners; their respective business‐related duties and responsibilities; how income will be shared; the criteria for additional investments and withdrawals; and the guidelines for adding partners, the withdrawal of a partner, and liquidation of the partnership. For income tax purposes, the partnership files an information return only. Each partner shares in the net income or loss of the partnership and includes this amount on his/her own tax return.

answer: the time zones used to be whatever the local authority wanted them to be. one town might have 6am whenever the sun came up and another town had 6am 10 minutes later.  

the trains had a hard time when their orders said to be at a certain point at 6am.  

6am, but who's 6am.  

the railroads got together and set the time zones more or less along the longitude lines across the country.

explanation:

"they had a large area of land that they owned."