Which of the following correctly describes a partnership?

A partnership is a type of business organization that is characterized by having two or more individuals who come together to operate a business and share its profits and losses. The correct option states that a partnership can have between two and twenty owners, which aligns perfectly with the legal definitions of partnerships. This range reflects the typical structure of partnerships, which allows for collaboration and shared responsibilities among the partners.

Partnerships can take various forms, such as general partnerships where all partners participate in management and share liabilities, or limited partnerships that include limited partners who have restricted liability and typically do not engage in daily management. The requirement that there must be at least two owners distinguishes partnerships from sole proprietorships, where only one individual owns the business.

Contrasting with the other options, a business with one owner pertains to sole proprietorships, while the suggestion of a business with unlimited owners points to corporations or cooperatives, which can have many shareholders. The final option, referring to a mistrustful clientele, does not accurately describe any type of business structure and lacks relevance to the characteristics of a partnership. Therefore, the understanding that a partnership is defined by having at least two owners, up to a maximum of twenty, provides clarity on this business model.