28. Shelby and her sister Isa want to go into business together selling beauty products. They have agreed to share the risks and profits associated with their new business endeavor, what type of business ownership should they set up? partnership corporation proprietorship

## Step 1<br />The problem presents a scenario where Shelby and her sister Isa are planning to start a business together, sharing both the risks and profits. The question asks us to identify the type of business ownership that best fits their situation.<br /><br />## Step 2<br />The options provided are: partnership, corporation, and proprietorship. Let's analyze each one:<br /><br />### **Partnership**<br />A partnership is a type of business ownership where two or more individuals share the responsibilities, risks, and profits of a business. This seems to align with Shelby and Isa's situation, as they are planning to share both the risks and profits.<br /><br />### **Corporation**<br />A corporation is a type of business ownership where the business is considered a separate legal entity from its owners. This means that the owners are not personally responsible for the business's debts and liabilities. This does not align with Shelby and Isa's situation, as they are planning to share both the risks and profits.<br /><br />### **Proprietorship**<br />A proprietorship is a type of business ownership where a single individual owns and operates the business. This does not align with Shelby and Isa's situation, as they are planning to share both the risks and profits.<br /><br />## Step 3<br />Based on the analysis, the type of business ownership that best fits Shelby and Isa's situation is a partnership.