One Way to Eliminate Some of the Risk of Your

question 6

Multiple Choice

One way to eliminate some of the risk of your partners making costly mistakes that could jeopardize your personal assets is to set up a:

• A) Master Limited Partnership.
• B) sole proprietorship.
• C) limited amount of time each can actively spend in the business.
• D) limited liability partnership.

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Definitions:

Optimal Maintenance Policy

A strategy for scheduling maintenance activities in the most efficient, cost-effective manner while minimizing downtime and extending equipment life.

Historical Data

Recorded information from the past that is used for research, analysis, and decision making in various contexts.

Breakdown Probabilities

The likelihood of a system or component failing within a certain period.

Autonomous Maintenance

Operators partner with maintenance personnel to observe, check, adjust, clean, and notify.