Amal and Nasim would like a form of business that combines the benefits of a corporation and a partnership while avoiding some of the restrictions associated with those forms of ownership. Which type of business should they form?
A) syndicate
B) conglomerate
C) joint venture
D) LLP

Question

Quizplus · Accepted Answer

A Limited Liability Partnership (LLP) combines the benefits of a corporation (limited liability protection) and a partnership (flexible management, flow-through taxation). It also avoids some of the restrictions associated with those forms of ownership as the partners are not completely liable for each other's actions.

Amal and Nasim Would Like a Form of Business That