Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

You and four friends are investing $10,000 each to start a business. To keep things even, you will all own 20% of the business and

You and four friends are investing $10,000 each to start a business. To keep things even, you will all own 20% of the business and will contribute 20% of the work required to make the business successful. If the business makes a profit, you'll each get 20%. However, you all agree that the business must provide liability protection. Which form of business best meets your needs?

a)joint venture

b)corporation

c)partnership

d)sole proprietorship

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Essentials Of Accounting For Governmental And Not-for-Profit Organizations

Authors: Paul Copley

14th Edition

1260570177, 978-1260570175

More Books

Students also viewed these Accounting questions