Will and Bill both enjoy sunshine,water,and surfboards.Thus,the two friends decided to create a business together renting surfboards,paddle boats,and inflatable devices in California.Will and Bill will equally share in the decision making and in the profits or losses.Which type of business did they create if they both have full personal liability for the firm's debts?
A)Sole proprietorship
B)Limited partnership
C)Corporation
D)Joint stock company
E)General partnership

Question

Quizplus · Accepted Answer

Will and Bill created a general partnership since they both share decision-making and profits or losses equally and have full personal liability for the firm's debts.

Will and Bill Both Enjoy Sunshine,water,and Surfboards