Question

brea, robert, and lincoln are college friends who want to start a business. brea has creative ability, roberts expertise is selling, and lincolns expertise is management. however, each has limited capital. their ideal type of business ownership is a
franchise.
corporation.
merger.
partnership.
question 4
5 pts
if all of the individuals who own a business share unlimited liability for the businesss losses, these individuals are part of a(n)
\s\ corporation.
private corporation.
\c\ corporation.
general partnership.

Explanation:

• Partnership: In a partnership, multiple people (like Brea, Robert, and Lincoln) can combine their skills (creative ability, selling expertise, management expertise) and share in the business. It's flexible and can accommodate limited capital from each.
• General Partnership: In a general partnership, all partners have unlimited liability for the business's losses. This matches the description in the second question.

Answer:

First question: partnership.
Second question: general partnership.