Assume that you are starting a business. Further assume that the business is expected to grow very quickly and a great deal of capital will be needed soon. What type of business organization would you choose?
A) Corporation
B) General Partnership
C) Limited liability company
D) Limited partnership

Question

Quizplus · Accepted Answer

A corporation would be the best choice in this scenario because it has the ability to raise large amounts of capital through issuing stocks or bonds. Additionally, a corporation provides limited liability protection for its owners, which would be beneficial in case the business encounters any legal or financial issues.

Assume That You Are Starting a Business