A company is being created and the owners are trying to decide whether to form a general partnership, a limited liability partnership, or a limited liability company. What are the advantages and disadvantages of each of these legal forms?

EBK CONTEMPORARY FINANCIAL MANAGEMENT
14th Edition
ISBN:9781337514835
Author:MOYER
Publisher:MOYER
Chapter1: The Role And Objective Of Financial Management
Section: Chapter Questions
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A company is being created and the owners are trying to decide whether to form a general partnership, a limited liability partnership, or a limited liability company. What are the advantages and disadvantages of each of these legal forms?

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