Ronald, Jamie, Ben, and Joseph Are Colleagues Who Want to Start

Multiple Choice

Ronald, Jamie, Ben, and Joseph are colleagues who want to start a company of their own. All of them want to be actively involved in managing the business. However, they do not want any personal liability for any debts incurred by the company. In this scenario, they should most likely get involved in a _____.

A) general partnership
B) joint liability partnership
C) limited liability partnership
D) limited partnership