Question

Todd and Jorge have considered starting their own business but are concerned about the possibility of losing their personal assets if the business fails. One way for both Todd and Jorge to avoid this risk would be to organize their firm as a(n):

Answer 1

corporation

Step-by-step explanation:

From the question, we are informed about Todd and Jorge who have considered starting their own business but are concerned about the possibility of losing their personal assets if the business fails. N this case, One way for both Todd and Jorge to avoid this risk would be to organize their firm as corporation. Corporation can be regarded as legal entity which could be set up by shareholder or individuals so that profit can be made. It gives room for contracts entering, remition of taxes by federal and state, own asset , ability to sue and be sued.