Question

frado and miriam meet at a start - your - own business workshop. they would both like to open a bookstore. while they have start - up capital, they are worried about the risk to their personal property. which of the following would most likely be the best business choice for each of them?
sole proprietorship
partnership
limited liability company
corporation
question 2

Explanation:

• Sole proprietorship: Owner has unlimited liability (risk to personal property).
• Partnership: Partners have unlimited liability (risk to personal property).
• Limited liability company (LLC): Owners (members) have limited liability (personal property protected).
• Corporation: Shareholders have limited liability (personal property protected). But LLCs are often simpler for small - scale businesses like a bookstore compared to corporations (less formalities in many cases).

Answer:

Limited liability company