Daniel and Ian run a law firm in downtown Phoenix. The firm has debt of $100,000, but Daniel and Ian will not be held personally liable for the firm's debts. The business organization is the type that requires Daniel and Ian to report all business-related income on their personal tax returns. This is an example of:
O A corporation
O A proprietorship
O A partnership
O An LLP/LLC
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Home » Business » Daniel and Ian run a law firm in downtown Phoenix. The firm has debt of $100,000, but Daniel and Ian will not be held personally liable for the firm's debts.