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Please answer quickly this is a study question! thanks! Three people want to start a small business.
Please answer quickly this is a study question! And please explain why the answer you chose is right. thanks!
Three people want to start a small business. One person will fund the venture but wants to limit her liability to her initial investment and has no interest in the daily operations. Another will contribute his full efforts on a daily basis but has limited funds to invest in the business. The third individual will be involved as an active consultant and manager and will also contribute funds. All three individuals will share in the firm's profits and wish to keep the initial organizational costs of the business to a minimum. Which form of business entity should these individuals adopt?
Question 2 options:
a) limited liability company
b) general partnership
c) joint stock company
e) sole proprietorship