Asked by Chris Gladden on Jul 04, 2024

verifed

Verified

The ________ is the preferred form of business for professionals and is especially good for consultants and auditors,allowing them management flexibility while insulating them mostly from personal liability.

A) S Corporation
B) LLLP
C) LLC
D) LLP

Professionals

Individuals who possess specialized knowledge or skills in a particular field, often requiring certification or licensing.

Management Flexibility

The ability of a business's management team to adapt to changes or challenges in the operating environment, including strategic decision-making.

Personal Liability

The legal responsibility of an individual to compensate for harm or damages their actions have caused, potentially affecting their personal assets.

  • Cognize the obligation fallouts for collaborators in several partnership models.
verifed

Verified Answer

BB
Brent BingamanJul 10, 2024
Final Answer :
D
Explanation :
A limited liability partnership is a partnership whose partners have elected limited liability status.The LLP is an especially good form of business for professionals such as consultants and auditors,allowing them management flexibility while insulating them mostly from personal liability.