Logan Nettles Approached Kevin Lang About Becoming a Partner in a Firm

question 22

Multiple Choice

Logan Nettles approached Kevin Lang about becoming a partner in a firm that destroys environmental waste.While Logan would like to become a partner in the firm,he is concerned about his liability because he has recently inherited a lot of money.In this situation,Logan should become a

• A) general partner with a majority ownership interest in the business.
• B) general partner with a minority ownership interest in the business.
• C) limited partner.
• D) joint venturist.
• E) sole proprietor.

---

Definitions:

Market Value

The current price at which an asset or service can be bought or sold in the open market.

Price of Hat

The cost assigned to a hat, determined by various factors including materials, production costs, brand, and market demand.

GDP

GDP represents the sum of all economic value generated by goods and services within a nation's boundaries over a defined period.

Grocery Store

A retail store that primarily sells food, both fresh and packaged, as well as other household goods.