Harvey would like to support his friend's new business financially but also wants to protect his assets in case the business fails.Which form of ownership would you recommend?

Question

Quizplus · Accepted Answer

A limited partnership would be the best choice as it would allow Harvey to financially support his friend's business while also limiting his liability to the amount invested in the business. This means that if the business fails and incurs debts, Harvey's personal assets will not be at risk beyond his investment.

Harvey Would Like to Support His Friend's New Business Financially