Question

Although Lou Banfilter, now a young attorney, is impressed with Car Keepers and believes it could be a good investment, he told Genna that his professional position at a law firm prevents him from taking an active role in the business. He is also concerned about accepting more risk since he and his wife are expecting a child. He mentioned a preference for limited liability. If Lou joined Genna and Al, the three might consider forming a:________. A) limited partnership. B) general partnership. C) sole proprietorship. D) master limited partnership.

Answer 1

Answer: (A) Limited partnership

Step-by-step explanation:

According to the given question, the limited partnership is one of the type of investment that basically managing the business and also the various types of private liabilities.

A limited type of partnership contain atleast one partner and one GP that helps in contributing financially. All the three person are forming the limited partnership that helps in extended the overall investment money as they mentioned about the limited liabilities and also their specific preferences.

Therefore, Option (A) is correct answer.