Alani and Jeremy have considered creating their own company but are concerned about the possibility of losing all of their personal assets if the business fails. One way for Alani and Jeremy to avoid this risk would be to organize their firm as a
A) general partnership.
B) limited partnership.
C) corporation.
D) sole proprietorship.

Question

Quizplus · Accepted Answer

A corporation has the advantage of limited liability for all of its owners. Although a limited partner also has limited liability, even a limited partnership must have at least one general partner with unlimited liability.

Alani and Jeremy Have Considered Creating Their Own Company but Are