Phillip and Reed Have Developed a New Technology for Home

question 135

Multiple Choice

Phillip and Reed have developed a new technology for home computer systems.However,they need to raise a large amount of capital to build the production and support facilities to market their product successfully.Which of the following business types would be best suited to help the company raise the necessary capital to begin production?

• A) Corporation
• B) Proprietorship
• C) Partnership
• D) Limited liability partnership

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Definitions:

Frederick Douglass

An African American social reformer, abolitionist, orator, writer, and statesman who after escaping from slavery in Maryland, became a leader of the abolitionist movement.

Military Service

The act of serving in the armed forces of a country, either voluntarily or through conscription.

Enlist

To voluntarily join a military force.

Abraham Lincoln

The 16th President of the United States, who led the country during the Civil War and played a key role in abolishing slavery with the Emancipation Proclamation.