Final answer:
The Department of Licensing & Regulatory Affairs is responsible for investigating a formal complaint against a builder for financial mismanagement.
Step-by-step explanation:
The organization responsible for investigating a formal complaint against a builder for financial mismanagement is the Department of Licensing & Regulatory Affairs (option B).
The Department of Licensing & Regulatory Affairs is responsible for overseeing and regulating various industries, including construction. They investigate complaints and ensure that builders and other professionals adhere to financial and regulatory standards.
For example, if a builder is accused of financial mismanagement, the Department of Licensing & Regulatory Affairs will investigate the complaint, gather evidence, and determine if any violations have occurred.