Scenario 10-3. Mary Manting is opening her new business. She is offering a day camp/day care summer experience for a newly developed suburb in upscale Yolando. She has little capital and little management experience, and she is concerned with the possibility of lawsuits due to the nature of her business and the unlimited liability that she could then face. She comes to you for business advice.
-In Scenario 10-3, which form of business ownership should she choose?

Question

Quizplus · Accepted Answer

Given Mary's concerns about lawsuits and unlimited liability, a corporation is the best choice. It offers limited liability protection, meaning her personal assets are protected from business debts and lawsuits.