Question

Tim, Bob, and Sal want to start a business of renovating homes. Each wants to take an active role in managing the company while also protecting their personal assets from unlimited liability. They are likely to find that forming a _____ will meet their needs. a. limited liability company b. limited partnership c. general partnership d. nonprofit corporation

Answer 1

a. limited liability company

Step-by-step explanation:

Limited liability company -

In a limited liability case , the financial liability of a person is limited to a certain amount , when investing for a company or for any partnership .

Hence , same is the case with Tim , Sal and Bob , they want to start a business of renovating the house , but they want to save a certain amount from their investment for their personal expenses .

Hence , the amount for the company is limited .