The term that best describes the given responsibility is joint accountability.
Explanation:
Sharing the responsibilities and the outcomes of any situation in a business entity or firm is known as joint accountability.
In a joint accountability environment, all the team members plan, decides, delegates and executes the work together. All the members of the team are equally responsible for both the positive and negative outcomes of any project they execute or plan.
Here, it has been given that in a partnership, each member of the project team is accountable for both the achievements and consequences of the project they are working in. So, we can conclude that the type of responsibility exhibited here is joint accountability.