Ronald, Jamie, Ben, and Joseph are colleagues who want to start a company of their own. All of them want to be actively involved in managing the business. However, they do not want any personal liability for any debts incurred by the company. In this scenario, they should most likely get involved in a _____.
A. general partnership
B. joint liability partnership
C. limited liability partnership
D. limited partnership
Answer: C
You might also like to view...
What is productivity? Why is increasing productivity important? In the context of a specific job, preferably from your own experience, discuss at least three ways that managers can improve productivity.
What will be an ideal response?
Concealment investigative techniques do not work well in kickback situations. Why?
a. The parties in the transaction will be hard to trace. b. Results of concealment investigative techniques are not admissible as evidence in courts. c. There is usually no direct documentary evidence. d. The risk involved in such investigations is unusually high.
Employee empowerment is a central concept to improving customer service
Indicate whether the statement is true or false
Which of the following actions can enable companies to gain a cost competitive advantage?
a. Removing frills from products b. Increasing marginal customers c. Eliminating reverse engineering efforts d. Developing additional exclusive functional departments