27. Jorge and Fred have a product they would like to sell They decide to 10pa share the risks and profits by forming an unincorporated business The business organization Jorge and Fred have MOST LIKELY formed is a(n) corporation. partnership. entrepreneurship

## Step 1<br />The problem presents a scenario where Jorge and Fred decide to share the risks and profits of their business equally. This indicates that they are not forming a corporation, as corporations are typically characterized by limited liability and ownership by shareholders.<br />## Step 2<br />The term "entrepreneurship" is a broad concept that refers to the process of starting a business. It does not specifically describe the type of business organization.<br />## Step 3<br />The term "partnership" is the most appropriate description for the business organization Jorge and Fred have formed. A partnership is a type of business where two or more people share ownership, each with the ability to act on behalf of the business. This aligns with the scenario presented in the problem, where Jorge and Fred are sharing the risks and profits equally.