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)Limited amount of time each can actively spend in the business.
D)Limited Liability Partnership.

Question

Quizplus · Accepted Answer

A Limited Liability Partnership (LLP) allows for partners to have limited personal liability for the actions of other partners in the business. This means that each partner's personal assets are protected from any costly mistakes made by other partners in the company. Additionally, LLPs provide flexibility in management and taxation, making them a good choice for small businesses.

One Way to Eliminate Some of the Risk of Your