Final answer:
A firm may engage in the practice of public accounting in the form of a limited liability partnership, which limits the partner's liability to their investment in the company.
Step-by-step explanation:
A firm may engage in the practice of public accounting in the form of a limited liability partnership. A limited liability partnership provides the benefit of limiting the partner's liability to their investment in the company, so the owners of the business would not risk losing their personal assets (home, car, personal bank accounts, etc.) if the company were to fail.