One way to eliminate some of the risk of your partners making costly mistakes that could jeopardize your personal assets is to set- up a:
A)Master Limited Partnership.
B) Sole proprietorship.
C) Limit the amount of time each can actively spend in the business.
D)Limited Liability Partnership.

Question

Quizplus · Accepted Answer

Limited Liability Partnership (LLP) is the best choice to eliminate some of the risks of partners making costly mistakes that could jeopardize personal assets. An LLP provides protection against personal liability for the actions or debts of the other partners. Each partner is only responsible for their own actions, so their personal assets are not at risk in case of mistakes made by other partners. This can give peace of mind to partners and encourage them to take more risks, leading to more growth in the business.

One Way to Eliminate Some of the Risk of Your