Asked by ESTELA LUCCHESI on May 16, 2024
Verified
In choosing the form in which to conduct business, if ease of formation is the primary concern, the owners would choose a:
A) corporation.
B) limited liability partnership.
C) limited partnership.
D) general partnership.
Ease of Formation
The relative simplicity and lack of complication in legally establishing a new business or company.
General Partnership
A business arrangement where two or more individuals manage and operate a business in accordance with the terms and objectives set out in a Partnership Agreement.
Limited Liability Partnership
A business entity where partners have limited liabilities, protecting their personal assets from business debts.
- Comprehend the different types of business entities and their attributes.
Verified Answer
DA
Daysi AbarcaMay 18, 2024
Final Answer :
D
Explanation :
A general partnership is the easiest form of business to form as it does not require formal paperwork or fees that entities like corporations, limited liability partnerships, and limited partnerships typically require.
Learning Objectives
- Comprehend the different types of business entities and their attributes.