A form of the partnerships business entity is
A) LLP.
B) LLC.
C) INP.
D) DBA.

Question

Quizplus · Accepted Answer

LLP (Limited Liability Partnership) and LLC (Limited Liability Company) are both forms of partnerships that offer limited liability protection for their owners. INP and DBA are not forms of partnerships, but rather abbreviations or designations used for other purposes (INP being an abbreviation for "Independent Nurse Practitioner" and DBA standing for "Doing Business As"). LLP (Limited Liability Partnership) and LLC (Limited Liability Company) are both forms of the partnerships business entity that provide some degree of liability protection for the owners (partners/members). INP and DBA are not forms of business entities but rather terms used to refer to certain business activities (INP stands for "Independent Contractor" and DBA stands for "Doing Business As").

A Form of the Partnerships Business Entity Is