ACCA · Question 11 · The formation and constitution of business organisations
A group of architects wishes to form a business. They want the flexibility of a traditional partnership regarding internal management, but they also want to protect their personal assets from the business's debts.
Which business structure is most appropriate for them?
Answer options:
A general partnership under the Partnership Act 1890.
A private limited company (Ltd).
A Limited Liability Partnership (LLP).
A sole trader structure with multiple owners.
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