Price and Quint are starting a small machine shop¾Riverside Boat Repair¾and are considering whether to organize the business as a limited liability partnership. This form
A. does not limit its owners' personal liability for business debts.
B. limits its owners' personal liability for business obligations.
C. obviates the need to obtain insurance for business liability risks.
D. requires three partners to accept liability for potential risks.
Answer: B
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