Question

Nell is considering forms of business organization for Optic Center, a medical eye clinic. An advantage of a limited liability partnership is that, depending on the applicable state statute, partners can avoid personal liability for

Answer 1

Answer:

any partnership obligation.

Explanation:

This word implies that if the partnership can't afford to pay for the respective debts and credits, the partners are individually responsible to pay for it and can go after personal assets like bank accounts.

Partnership agreement is a legal form of business operation between two or more individuals who share management and profits. Generally speaking, the partners manage the company and take up responsibility for the partnership's debts and other obligations.