William and Theodore have decided to start a travel business called Excellent Adventures.Since their business primarily involves time-travel their clients may be harmed during a small but significant portion of the travels.Consequently,William and Theodore would like a business form that will shield their personal wealth from any legal claims that the firm might be subject to after one of the travel mishaps.If William and Theodore are the only investors in this U.S.domiciled firm,which legal form of organization would be best for Excellent Adventures to protect both William and Theodore?
A) sole proprietorship
B) partnership
C) limited partnership
D) corporation
Correct Answer:
Verified
Q3: Since the Tax Relief Act of 2003,if
Q4: Which of the following is not one
Q5: Which of the following characteristics would disqualify
Q6: Managers of firms should only take actions
Q7: Which of the following is a valid
Q9: The Sarbanes-Oxley Act of 2002
A) established the
Q10: Within a limited partnership context,what are the
Q11: The rules dictating voting procedures and other
Q12: Which of the following parties have the
Q13: Agency costs refer to
A) the costs associated
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