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10 individuals enter into an agreement where 2 of them invest $10 each and all others invest $10,000 each to create a firm. Based on
10 individuals enter into an agreement where 2 of them invest $10 each and all others invest $10,000 each to create a firm. Based on the agreement, the 2 individuals who invested $10 each assume an executive role and are responsible for day-to-day operations and overall management of business. The remaining 8 create a committee where they are reported on the state of business by the 2 executives periodically but they do not engage in day-to-day operations and are not responsible for the management of business. They have established:
| A corporation |
| A partnership |
| A general partnership |
| A limited partnership |
| A limited liability partnership |
| None of the above |
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