Josie is starting a new business. She will be actively managing and operating the business day$-$to$-$day and will have unlimited liability for the business' liabilities.

Two other people, Peter and Pauline, are investing money in Josie's business. Neither Peter nor Pauline will be involved in the business' daily operations or management activities. Unlike Josie, their liability will be limited$.$

These $3$ are forming which type of business?

Question $13$ options:

General Partnership

C Corporation

Sole Proprietorship

Limited Partnership