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Question 12 of 75. Which business is the best example of a limited partnership? Finlay and Zach operate a music studio. They are both personally
Question 12 of 75. Which business is the best example of a limited partnership? Finlay and Zach operate a music studio. They are both personally liable for the debts of the business. Finlay invested $35,000 in the business, while Zach contributed the music studio and paid for certain equipment. They both share in the profits of the business. Heather and Kazimir operate a coffee shop. They are both personally liable for the debts of the business. Heather contributed the building in which the coffee shop operates. Kazimir invested $15,000 and also contributes his labor; he works as a barista several days a week. They both share in the profits of the business. Paul owns and operates a heating and cooling repair business and is personally liable for the debts of the business. Daniel, Greg, and Shawn are all employed as service technicians. Paul offered each of them the option to buy a 5% share of the business. They each decided to exercise the option, and they will be entitled to a share of the business profits. They will also be responsible for business debts up to the amount of their initial investment. Steven operates a bicycle repair shop. Jessica gave Steven $30,000 to open the business and shares in the profits with Steven. They are both personally liable for the debts of the business. Mark for follow up
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