April is a doctor who is forming her own medical practice. She wants her practice to be flexible, simple to run, and free from required meetings, minutes, or resolutions. Her goal is to blend the best characteristics of corporations, partnerships, and sole proprietorships. What form of business ownership seems most in-line with April's goals?

Question

Quizplus · Accepted Answer

April should use the limited liability company (LLC) form of business ownership because LLCs are flexible, simple to run, and do not require the members to hold meetings, keep minutes, or make resolutions. Many consider the LLC a blend of the best characteristics of corporations, partnerships, and sole proprietorships.

April Is a Doctor Who Is Forming Her Own Medical