Question

A type of entity that must have one general partner and at least one limited partner. b. A type of entity in which owners are "members". c. A type of entity in which all owners are jointly and severally liable for the entity's debts. d. A type of entity in which there can be only one owner.

Answer 1

Answer: a) Limited Liability Partnership (LLP)

b) Limited Liability Company (LLC)

c) General Partnership

d) Sole Proprietorship

Explanation: Limited Liability Partnership (LLP) - A type of entity that must have one general partner and at least one limited partner.

Limited Liability Company (LLC)- A type of entity in which owners are "members".

General Partnership - A type of entity in which all owners are jointly and severally liable for the entity's debts.

Sole Proprietorship - A type of entity in which there can be only one owner.