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:

Pair of Jeans

A Pair of Jeans is an item of clothing made from denim or another fabric, characterized by its durability and typically fastened with buttons or zippers.

Free Goods

Free goods are resources or services that are available in abundance and do not have an opportunity cost, meaning they can be consumed in unlimited quantities without depleting any resource.

Government Intervention

Actions taken by a government to affect the economy, which can include regulations, subsidies, taxes, and direct provision of goods or services.

Rival in Consumption

A good is termed a rival in consumption if its use or consumption by one individual prevents its use or consumption by another individual.