A form of business that provides the flexibility of a partnership and the limited liability of the corporation is:

Question

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A Limited Liability Company (LLC) provides the flexibility of a partnership by allowing the owners, known as members, to decide how they want the business to be managed and taxed. The LLC also offers limited liability protection to members which means their personal assets are not at risk if the business cannot pay its debts. Limited partnership (A) requires at least one general partner who has unlimited liability for the partnership's debts while limited partners have limited liability but cannot participate in management. General partnership (B) offers no limited liability protection to partners, making it a risky business model.

A Form of Business That Provides the Flexibility of a Partnership