Which business is the best example of a limited partnership? Kasem and Harrison operate a music studio and are both personally liable for the debts of the business. Kasem invested $30,000 in the business, while Harrison contributed the music studio and paid for certain equipment. They both share in the profits of the business. O Terry owns and operates a heating and cooling repair business and is personally liable for the debts of the business. Julian, Zachary, and Ryan are all employed as service technicians. Terry 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. O Chin and Jiro operate a coffee shop and are both personally liable for the debts of the business. Chin contributed the building in which the coffee shop operates. Jiro invested $10,000 and also contributes his labor; he works as a barista several days a week. They both share in the profits of the business. Khalid operates a cellular phone repair shop. Zara gave Khalid $50,000 to open the business, and shares in the profits with Khalid. They are both personally liable for the debts of the business.