Question

Question 2

1 pts
Kyle and Palo had been friends for a long time. The friends shared a common
interest in computer technology. Kyle had done some software design and
computer work on his own for neighbors and family friends. It wasn't long before
he realized that there was a demand for small businesses to have affordable
computer consultants. He decided to start a business. Kyle discussed his venture
with Palo and asked him if he would like to combine capital and take an active role
in the business with him. Both Kyle and Palo are equally responsible for the
businesses' risks and rewards.

Answer 1

Answer: General Partnership

Step-by-step explanation:

Since both Kyle and Palo are equally responsible for the businesses' risks and rewards and they also combine their resources together, then this is a general partnership.

For a general partnership, they both take active part in the business and also have unlimited personal liabilities.

Therefore, the answer is general partnership.