Which Form of Business Entity Was Created Primarily to Professionals

question 5

Multiple Choice

Which form of business entity was created primarily to professionals from malpractice liability generated by other owners in the firm?

• A) the limited partnership
• B) the limited liability partnership
• C) the limited liability company
• D) the general partnership

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Definitions:

Frederic Bastiat

A French economist and writer known for his advocacy of free markets and his critique of protectionism.

World Trade Organization

An international body that oversees global trade rules between nations, aiming to ensure trade flows as smoothly, predictably, and freely as possible.

Multinational Corporations

Large companies that operate and have assets in several countries, allowing them to produce and sell goods and services across national borders.

Trade Adjustment Assistance

A federal program designed to help workers who have lost their jobs as a result of international trade find new employment.