Nell Is Considering Forms of Business Organization for Optic Center

question 9

Multiple Choice

Nell is considering forms of business organization for Optic Center, a medical eye clinic. An advantage of a limited liability partnership is that, depending on the applicable state statute, partners can avoid personal liability for

• A)their own wrongful acts.
• B)any partnership obligation.
• C)their own and other partners' wrongful acts.
• D)none of the choices.

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Definitions:

Voluntary Benefit

Optional, employee-paid benefits offered by employers, allowing employees to tailor benefits packages to their needs.

Child Care Allowance

Financial support provided by an employer or government to help offset the costs of child care for employees or citizens.

Pensions and Savings Plans

Retirement benefit plans sponsored by employers to provide employees with financial security in their retirement years.

Legally Required Benefit

Employee benefits that employers are mandated to provide by law, such as social security, workers' compensation, and unemployment insurance.