Two of Rolanda's friends have approached her to see if she would like to join them in starting a new business.Rolanda is willing to invest money in the business and share in its profits,but she has no desire to be involved in the day-to-day management of the company.She is also very nervous about the risk of losing her personal assets.Rolanda's preferences suggest that she would like to see the business operated as a general partnership.

Question

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A general partnership would not protect Rolanda's personal assets from business liabilities. She would prefer a limited partnership or a corporation to limit her liability.

Two of Rolanda's Friends Have Approached Her to See If