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Three College Graduates Want to Start an Auto Shop

question 61

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Three college graduates want to start an auto shop. Two of the partners will do most of the work, so they plan to share, receiving 40% of the profits each. The remaining partner will get 20% of the profits. Because working with other people's cars can create liabilities, they want to form of business that provides liability protection. Which form of business best fits their needs?


Definitions:

Marginal Land

Land that yields minimal agricultural output due to poor soil quality, steep slopes, or other environmental factors.

Location

Refers to the geographical situation of a place based on physical and human factors, influencing its connectivity and economic activities.

Marginal Land

Land that has limited agricultural productivity or is challenging to cultivate due to its poor soil, rough terrain, or other adverse conditions.

Rent

Rent is the payment made by a tenant to a landlord for the use of a property, typically on a monthly basis, for residential or commercial purposes.

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