Asked by Yelyzaveta Vakhtina on Jun 14, 2024
Verified
Which of the following choices is a way a law firm is typically organized?
A) A partnership
B) A professional corporation
C) A sole proprietorship
D) All of these choices are correct.
Professional Corporation
A business entity formed by lawyers, doctors, accountants, and other professionals, offering certain tax and legal advantages.
Sole Proprietorship
A type of business ownership where a single individual owns, manages, and is responsible for all aspects of the business.
Partnership
An association of two or more persons to carry on as co-owners a business for profit.
- Discern among the diverse organizational structures for law firms, like sole proprietorships, partnerships, and professional corporations.
Verified Answer
LW
Latania WilsonJun 20, 2024
Final Answer :
D
Explanation :
Law firms can be organized in various ways, including as partnerships, professional corporations, or sole proprietorships, depending on the size of the firm, the jurisdiction's laws, and the preferences of the owners.
Learning Objectives
- Discern among the diverse organizational structures for law firms, like sole proprietorships, partnerships, and professional corporations.